Vietnam's industrial zones (IZs) have emerged as a focal point for foreign direct investment (FDI) in Southeast Asia. This attractiveness can be attributed, in part, to the government's strategic implementation of a preferential tax regime within these designated areas.  This regime offers significant financial incentives for businesses seeking to establish operations in Vietnam, fostering a […]

On April 16, 2024, the General Department of Customs issued Circular No. 1603/TCHQ-TXNK providing guidance on VAT reduction for embroidery machines as per Decree No. 94/2023/NĐ-CP dated December 28, 2023. In accordance with Article 1(1) of Decree No. 94/2023/NĐ-CP, the VAT reduction policy applies to commodity groups subject to a tax rate of 10% (reduced […]

On April 16, 2024, the General Department of Taxation issued Circular No. 1577/TCT-KK regarding VAT refund policies for cases where the parent company engages in export activities to its foreign subsidiary. - Pursuant to legal regulations, in the case where the parent company exports machinery and equipment to its subsidiary established in Cambodia to implement […]

On April 15, 2024, the General Department of Taxation issued Circular No. 1554/TCT-CS providing guidance on invoices. In accordance with legal regulations, commercial invoices not falling under any of the types of electronic invoices stipulated in Decree No. 51/2010/NĐ-CP dated May 14, 2010, and Decree No. 04/2014/NĐ-CP dated January 17, 2014, before the implementation of […]

On April 12, 2024, the General Department of Taxation issued Official Letter No. 1541/TCT-QLN regarding the extension of the deadline for the payment of the mineral exploitation rights fee and the postponement of the deadline for the payment of the mineral exploitation rights fee due to the temporary suspension of mining activities for mining enterprises. […]