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Mazars in Vietnam Newsletter - Tax & Legal Update - Issue December 2021
Mazars Tax & Legal Newsletter - December 2021
To assist in navigating these complexities for new year, Mazars’s tax team has developed this publication providing a broad overview of changes in Tax and Labour regulations to help enterprises stand firm through uncertain times.
Notable highlights are noted as below.
I. Changes in tax declaration and allocation
- Tax allocation for a centralised accounting taxpayer having dependent unit(s) or business location(s) located in province(s) different from its head office
- Allocation the overpayments to State Budget
- New forms for 2021 Tax Finalization and 2022 Tax filings
II. Other changes in tax regulations
- Tax withholding and declaration for foreign contractors
- Local tax authorities are required to confirm tax exemption/reduction application under Double Taxation Avoidance Agreement and Other International Treaties
- VAT refund
III. Changes in Labour & Insurance regulations
- Increase of Social insurance (“SI”) contribution for expats working in Vietnam
- SI and Unemployment Insurance (“UI”) contribution rates borne by employers after expiration of support policies due to the COVID-19 pandemic impact
- Increase of retirement age
- Increase of Trade Union Fee use
- Increase the cap of overtime (“OT”) hours to 300 hours/year
OUR SUPPORT
For regulation changes and tax matters, we can provide you with assistance on:
- Registration, declaration of Personal Income Tax, Corporate Tax, VAT and Foreign Contractor Tax.
- Tax refunds assistance and representation.
- Consultancy on utilizing opportunities provided by transfer pricing.
- Customs Advisory: Compliance & Reporting; FTA and C/O; Harmonised System code classification and valuation; Inventory control; International trade arrangement; and Others.
Download the issue in the PDF extension in English and Vietnamese as below. |