Tax policy for asset liquidation activities of Representative Offices

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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 eligible to use invoices with codes issued by tax authorities each time they arise, the asset liquidation representative office must use documents and must meet the following conditions specified in Clause 1. Article 6 Circular No. 78/2014/TT-BTC:

“a) Actual expenses incurred related to production and business activities of the enterprise.

  1. b) Expenses have enough legal invoices and documents according to the provisions of law.
  2. c) Expenditures if there are invoices for each purchase of goods and services with a value of 20 million VND or more (price includes VAT) must have non-cash payment documents when paying.

Non-cash payment documents comply with the provisions of legal documents on value added tax.


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