Reduce land rent according to Decision No. 25/2023/QD-TTg
On March 13, 2024, the General Department of Taxation issued Official Dispatch No. 949/TCT-CS explaining the problems in implementing land rent reduction in 2023 according to Decision No. 25/2023/QD-TTg. Pursuant to Article 2, Article 3, Article 4, Article 5 of Decision No. 25/2023/QD-TTg dated October 3, 2023 of the Prime Minister In case an organization, […]
Tax policy for asset liquidation activities of Representative Offices
On March 13, 2024, the General Department of Taxation issued Official Dispatch No. 957/TCT-CS on tax policy for asset liquidation activities of Representative Offices. According to the law, tax authorities have no basis for issuing electronic invoices with the tax authority's code in cases where a Representative Office liquidates assets. In case of not being […]
Late payment for temporary projects
On March 13, 2024, the General Department of Taxation issued Official Dispatch No. 956/TCT-CS on late payment interest for projects that temporarily calculate land use fees and land rent for projects that do not have a specific land price above. province. According to the provisions of law on tax administration, taxpayers who are late in […]
Adjust erroneous invoices
On March 13, 2024, the General Department of Taxation issued Official Dispatch No. 954/TCT-CS on adjusting erroneous invoices. Pursuant to Clause 6, Article 12 of Circular No. 78/2021/TT-BTC, if it is discovered that the issued invoice has errors, the seller and buyer must make a written agreement clearly stating the errors, and the seller shall […]
Exemption or reduction of rent for land with water surface
On March 8, 2024, the General Department of Taxation issued Official Dispatch No. 886/TCT-CS on reducing land rent. Regarding land rent reduction from 2020-2022, according to the provisions of law, businesses that submit applications for land rent or water surface rent reduction after March 31, 2023 will not be considered for land rent reduction. , […]
Navigating Investment Project Extension Challenges in Vietnam
In accordance with Point d, Clause 55.3 of Decree No. 31/2021/ND-CP issued by the Government on 26 March 2021, which elaborates on certain articles of the Law on Investment 2020, it is mandated that for investment projects utilizing land, the investor must follow extension procedures within six months prior to the expiration of its duration […]
Foreign Representative Offices in Vietnam: Legal Insights
In Vietnam, foreign enterprises have a valuable opportunity to expand their commercial footprint by establishing representative offices. This strategic avenue enables companies to explore the Vietnamese market without the burdens of significant initial investment or corporate income tax obligations. However, meticulous attention to the legal framework is imperative to ensure compliance and mitigate any potential […]
Circular 19: Establishing prices for new solar and wind power projects
On November 1, 2023, the Ministry of Industry and Trade issued Circular No. 19/2023/TT-BCT stipulating the method of building a power generation price frame applicable to solar power plants and wind power plants, laying the foundation for climate reality FiT (Feed-in Tariff) for solar and wind power projects. Scope of regulation and applicable subjects Circular […]
Overcoming Challenges for Offshore Wind Power Development in Vietnam
Hanoi, Vietnam - In a significant move towards sustainable energy, the Prime Minister of Vietnam issued Decision No. QD-TTg on May 15, 2023, approving the National Electricity Development Planning for the period 2021-2030 and the vision for 2050, also known as "the VIII Electricity Planning." This landmark decision underscores the commitment to increase the share […]