Vietnam tax & legal updates
You will find here all the issues of our "Vietnam Spotlight" newsletter related to the recent Tax, Legal and Accounting updates.
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Mazars in Vietnam Newsletter - Customs Update - Issue March 2021
We would like to bring you notable customs updates for March 2021 with the following highlights influencing the corporate operations activities:
Customs alert - Decree no. 18 amending a number of articles of Decree no. 134 guiding the Law on Import & Export taxes
On 11/03/2021, the Prime Minister approved the promulgation of Decree no. 18/2021/ND-CP amending and supplementing a number of articles of Decree no. 134/2016/ND-CP guiding the implementation of the Law on Import & Export taxes.
Customs alert - New guidance on tax treatment for export-production model with outsource processing
Following the Government's Resolution No. 178/NQ-CP dated 12/12/2020, on 23/02/2021 the General Department of Customs (“GDC)” issued Official Letter No. 879/TCHQ-TXNK guiding the tax treatment for imports being materials used for export-production in which part of the production process is being outsourced to 3rd party vendor.
Tax & legal alert - Decree 152 regarding foreign employees working in Vietnam
On 30 December 2020, The Government promulgated Decree No. 152/2020/ND-CP regarding foreign employees working in Vietnam (“Decree 152”). Decree 152 is effective from 15 February 2021 and replaces Decree No. 11/2016/ND-CP (as amended by Decree No. 140/2018/ND-CP).
Customs Alert - Circular No. 07/2021/TT-BTC on deadline for C/O submission under EVFTA
On 25/01/2021, the Ministry of Finance issued Circular no. 07/2021/TT-BTC ("Circular 07") providing guidance on the deadline to submit Certificate of Origin (“C/O”)(1) for goods imported into Vietnam under EU-Vietnam Free Trade Agreement (“EVFTA”).