Personal income tax law to be revised in 2025: legislator

Personal income tax law to be revised in 2025: legislator

The amended Personal Income Tax (PIT) Law will be considered for inclusion in the National Assembly's (NA) 2025 law building program, said Tran Van Lam, standing member of the legislature’s Finance and Budget Committee.

Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam to raise personal income tax deductibles: Finance Minister

Vietnam to raise personal income tax deductibles: Finance Minister

The Ministry of Finance is drafting rules to increase the deductible amount for personal income tax (PIT) to better reflect inflation, Finance Minister Ho Duc Phoc said Thursday.

Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7

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

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, Dec 22, 2021 | 11:30 am GMT+7

Destroyed goods not deductible for CIT calculation purposes

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 - Mon, Dec 22, 2021 | 11:30 am GMT+7

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

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 - Mon, Dec 22, 2021 | 11:30 am GMT+7

No 30% CIT reduction this year without 2019 revenue

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 - Mon, Dec 22, 2021 | 11:30 am GMT+7

Personal income tax for extra hour salary

Personal income tax for extra hour salary

If a company is not qualified to implement overtime at work, extra-hour salaries should not be eligible for personal income tax exemption.

KPMG - Mon, Dec 22, 2021 | 11:30 am GMT+7

Tax Q&A

Tax Q&A

Our company incurs some damaged material during the transportation from port to factory. Could we claim CIT deduction for the relevant cost of such damaged material?

KPMG - Mon, Dec 22, 2021 | 11:30 am GMT+7