Tax Policy for Mergers and Acquisitions
On August 30, 2024, the General Department of Taxation issued Official Letter No. 3872/TCT-CS regarding tax policy. According to the letter, if a company is acquired by another company in Vietnam that purchases 100% of the equity from the current shareholders to become the owner of the company, and following this acquisition, the two companies […]
Personal Income Tax Declaration for Capital Transfer Income
On August 30, 2024, the General Department of Taxation issued Official Letter No. 3876/TCT-DNNCN concerning the declaration of personal income tax. According to this letter, if the taxpayer is an issuing organization that declares and pays personal income tax on behalf of individuals transferring their capital contributions, this must be done in accordance with Article […]
Application of VAT Policy
On August 28, 2024, the General Department of Taxation issued Official Letter No. 3813/TCT-CS regarding VAT. According to the regulations, in principle, if a business entity is subject to VAT and qualifies for the VAT policy applicable to export processing enterprises under VAT law before the VAT policy is applied, it must follow the relevant […]
Draft Circular stipulating the collection rates, collection and payment regime for renewal and re-issuance of identity cards issued by the Minister of Finance
On 14/08/2024, the Ministry of Finance issued and collected comments on the draft Circular stipulating the collection rates, collection, and payment of fees for changing and re-issuing identification cards. According to the draft Circular of the Ministry of Finance, the fee rates when citizens submit applications directly are as follows: Citizens change from ID card […]
Notice of system update of the China Trade Promotion Council
On August 14, 2024, the General Department of Customs issued Official Dispatch No. 3835/TCHQ-GSQL on notice of system update of the Trade Promotion Council China. Accordingly, the General Department of Customs has the opinion: + The C/O reference number issued by the China Council for the Promotion of International Trade (CCPIT) is still issued according […]
Contractor tax on loan interest
On May 18, 2024, the General Department of Taxation issued Official Dispatch 3602/TCT-CS on contractor tax policy. According to Article 1 and Article 7 of Circular No. 103/2014/TT-BTC guiding the implementation of tax obligations applicable to foreign organizations and individuals doing business in Vietnam or earning income in Vietnam; and regulations in the current guiding […]
List of Periodic Reporting Regimes in the Field of Prices of the Ministry of Finance
On August 14, 2024, the Ministry of Finance issued Decision 1923/QD-BTC announcing the list of periodic reporting regimes in the field of prices under its management. The list includes four types of periodic reports submitted between state administrative agencies: General Market Price Report submitted to the Chair of the Prime Minister's Price Management Steering Committee […]
Periodic Reporting Regime for Industrial Clusters from October 1, 2024
On August 15, 2024, the Minister of Industry and Trade issued Circular 14/2024/TT-BCT, which regulates the periodic reporting regime for industrial clusters, the national industrial cluster database, and several forms for managing and developing industrial clusters. Accordingly, the periodic reporting regime for industrial clusters is specifically regulated as follows: Entities required to implement the periodic […]
Reduction of 50% in Vehicle Registration Fees for Domestically Manufactured and Assembled Cars for 3 Months
On August 29, 2024, the Government issued Decree No. 109/2024/ND-CP, which specifies the registration fee rates for cars, trailers, or semi-trailers towed by cars and similar vehicles manufactured and assembled domestically. According to Decree No. 109/2024/ND-CP, from September 1, 2024, to November 30, 2024, the registration fees will be reduced to 50% of the rates […]