Mazars in Vietnam Newsletter - Tax & Legal Update - Issue January 2024

Operational updates

1. Decree 94/2023/ND-CP stipulating the Value Added Tax reduction policy for the first 06 months of 2024
2. Official Letter 5435/TCT-CS guiding on case where the VAT rate cannot be determined
3. Official Letter 3142/CTTPHCM-TTHT guiding regulations on offsetting overseas profit remittance
4. Official Letter 5081/CTBNI-TTHT guiding on the timing of export revenue recognition
5. Official Letter 5114/TCT-CST guiding on determining the transfer of capital between companies within the same Group
6. Official Letter 5113/TCT-CS guiding on declaring capital transfer tax for foreign enterprises
7. Official Letter 5001/TCT-DNNCN guiding on determining the taxable income for individuals inheriting stocks
8. Official Letter 5046/CTBNI-TTHT guiding on the payment of severance allowances to expatriates leaving Vietnam
9. Official Letter 5026/CTBNI-TTHT guiding on the calculation of SCT for cases involving trade discount

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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.

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*Disclaimer:

This is a guide from Mazars in Vietnam to update the latest developments in tax, accounting and investment environment in Vietnam. The information and analysis or comments herein are of the generic nature and are quoted or interpreted from the regulations. We recommend that the clients contact Mazars Vietnam’s advisors for further clarification and professional advice for each particular circumstance.