KPMG - theinvestor.vn

What you can and can’t do: KPMG answers tax queries

KPMG - Wed, September 13, 2023 | 8:23 am GTM+7

“Importation” of uniforms from a domestic supplier for use in an export processing zone will incur import duties and VAT, say KPMG consultants.

Deglobalization among new FDI challenges, opportunities for Vietnam

Vietnam cuts VAT by 2% to stir up demand

KPMG navigates Vietnam VAT regulations

KPMG experts answer customer VAT queries

Targeted financial inspections and audits for 2023

VAT refund during construction stage only applicable to new investment projects

Flexible tax policies give businesses room to move

KPMG experts answer businesses' queries regarding the complicated navigation of the tax landscape.

KPMG - Thu, January 19, 2023 | 3:57 pm GTM+7

M&A 2022 landscape, outlook for 2023

KPMG Vietnam partner Nguyen Cong Ai provides an insight into Vietnam’s merger and acquisition (M&A) market in 2022 and outlook for 2023.

KPMG - Tue, January 3, 2023 | 8:13 am GTM+7

Tax administration on e-commerce strengthened for suppliers

The General Department of Taxation on November 14 issued a letter guiding owners of e-commerce trading platforms to provide updated company information from the start of 2023.

KPMG - Tue, December 13, 2022 | 9:24 am GTM+7

Leasing income not qualified for CIT incentive entitlement

As the leasing activity was not included into the original IRC, it is likely that leasing income is not qualified for CIT incentive entitlement.

KPMG - Mon, December 12, 2022 | 3:39 pm GTM+7

New circular guides tax obligations for science, technology development fund

The Ministry of Finance issued Circular 67/2022/TT-BTC on November 7 providing detailed guidance on corporate income tax obligations among enterprises that create and use a science and technology development fund (STD fund).

KPMG - Mon, November 21, 2022 | 3:41 pm GTM+7

New decree guides tax administration activities

The government in late October issued Decree 91 amending and supplementing several articles of Decree 126 guiding the implementation of the Law on Tax Administration.

KPMG - Fri, November 4, 2022 | 4:47 pm GTM+7

Workers paid 3 times normal daily wage for working annual leave days

If workers work on annual leave days, such days will be considered overtime and the employer is required to pay the employee at least 300% of the normal daily wage.

KPMG - Mon, October 31, 2022 | 12:35 pm GTM+7

How to declare, pay CIT for dependent-accounting branch

In case a company adopts a central accounting regime and the dependent branch is not involved in production activities, all CIT declarations and payments should be centrally reported to the tax department of the province where its headquarters is located.

KPMG - Tue, October 25, 2022 | 4:35 pm GTM+7

Destroyed goods not deductible for CIT calculation purposes

Defective goods are not listed as force majeure event, so the destroyed goods value due to defective status is not deductible for corporate income tax (CIT) purposes, says KPMG.

KPMG - Tue, October 11, 2022 | 8:33 am GTM+7

New decree guides cybersecurity law

The government on August 15 issued Decree No. 53/2022/ND-CP guiding the Law on Cybersecurity 2018, which took effect from October 1, 2022.

KPMG - Wed, October 5, 2022 | 10:52 am GTM+7

Banks can issue invoices on monthly basis to corporate customers

Commercial banks can issue invoices on monthly basis to corporate customers if such invoicing arrangement is contractually agreed by the parties.

KPMG - Wed, September 21, 2022 | 3:46 pm GTM+7

E-invoices to serve on-site goods export, import

For on-the-spot import declaration, a copy of an e-VAT invoice must be attached to the customs declaration dossier to be submitted via the electronic customs system.

KPMG - Wed, September 14, 2022 | 3:32 pm GTM+7

Without benchmark, 2021 CIT tax reduction not feasible: taxmen

If taxpayers saw no revenue generated in 2019, a 30% CIT reduction for tax year 2021 will not be granted as there is no benchmark to determine the revenue decrease for 2021, according to the General Department of Taxation.

KPMG - Fri, August 19, 2022 | 4:07 pm GTM+7

New VAT decree to boost property, energy sectors

The government on July 29 issued Decree 49/2022/ND-CP supplementing and amending a number of articles of Decree 209/2013/ND-CP on VAT and its amending decrees.

KPMG - Thu, August 4, 2022 | 4:21 pm GTM+7

No 30% CIT reduction this year without 2019 revenue

Companies that generated no revenue in 2019 will not be eligible for a 30% reduction in corporate income tax for 2021 since there is no benchmark to determine revenue decline in the year, according to tax authorities.

KPMG - Thu, July 28, 2022 | 2:51 pm GTM+7

New draft circular regulates non-government guaranteed foreign loans

A draft circular dated May 10, 2022 providing conditions on non-government guaranteed offshore loans will replace Circular No.12/2014/TT-NHNN dated February 26, 2014 issued by the State Bank of Vietnam.

KPMG - Fri, July 22, 2022 | 8:32 am GTM+7

Enhancing audit, inspection over tax compliance requirements

The General Department of Taxation (GDT) recently issued Official Letter No.769/TCT-TTKT requesting provincial and municipal tax authorities to strengthen measures to prevent loss of state budget revenue and ensure correct and sufficient tax collection.

KPMG - Fri, July 8, 2022 | 11:32 am GTM+7

Separate goods invoices no longer required for reduced 8% VAT

Taxpayers are no longer required to issue separate invoices for goods and services in order to enjoy the reduced 8% VAT rate.

KPMG - Fri, June 24, 2022 | 9:10 am GTM+7

Tax payment deferral scheme for 2022 okayed

As part of a post-pandemic economic recovery package, the government on May 28 issued Decree 34/2022/ND-CP approving certain tax payment deferral policies for taxpayers in 2022.

KPMG - Wed, June 15, 2022 | 7:00 am GTM+7