Mazars in Vietnam Newsletter - Tax & Legal Update - Issue June 2023

Operational updates

1. Official Letter 1789/TCT-TTKT issued by General Department of Taxation (“GDT”) dated 16 May 2023 appealing review and handling of illegal invoices
2. Reaching consensus on the scope of applying reduction of VAT rate to 8% according to Resolution 43/2022/QH15 dated 11 January 2022 being effective from 1 July 2023 to 31 December 2023
3. Official Letter 8622/CTBDU-TTHT issued by Binh Duong Province Tax Department dated 11 May 2023 guiding tax policy in case of changing new business location
4. Official Letter 1586/TCT-CS issued by GDT dated 11 May 2023 guiding VAT declaration per the seller’s e-invoices
5. Official Letter No. 1436/CTBNI-TTHT issued by Bac Ninh Province Tax Department dated 28 April 2023 guiding on the application of CIT incentives for interest income relating to the new investment projects with satisfied incentive conditions
6. Official Letter No. 9097/CTTPHCM-TTHT issued by Ho Chi Minh City Tax Department dated 25 November 2021 guiding CIT policy for disposed goods
7. Official Letter No. 1316/TCT-CS issued by GDT dated 14 April 2023 guiding on the application of CIT incentives when there is a document altering the administrative boundary/classification of urban areas
8. Decree 24/2023/ND-CP issued by the Government dated 14 May 2023 regulating the increase in the base salary to VND 1.8 million per month and effective from 01 July 2023

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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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