Vietnam: Recent corporate income tax and VAT guidance

A report regarding recent corporate income tax and value added tax (VAT) guidance

A report regarding recent corporate income tax and value added tax (VAT) guidance

The KPMG member firm in Vietnam prepared a report regarding the following recent corporate income tax and value added tax (VAT) guidance:

  • Official Letter No. 2594/TCT-CS providing that taxpayers not generating revenue in 2019 do not qualify for the 30% corporate income tax reduction in 2021
  • Official Letter No. 1585/TCT-CS providing that uncollectable output VAT upon a donation of goods to support the prevention of the coronavirus (COVID-19) is not deductible for corporate income tax purposes
  • Official Letter No. 923/TCT-CS providing that adjusting a project timeline does not affect a taxpayer’s qualification for corporate income tax incentives
  • Official Letter No. 8042/BTC-TCHQ relating to the use of e-invoices for on-the-spot export and import of goods
  • Official Letter No. 8404/BTC-CS regarding the timing of e-invoice issuance for export processing enterprises 
  • Decree No. 41/2022/ND-CP amending regulations on issuing separate VAT invoices for goods and services eligible for VAT reduction as per Decree No. 15/2022/ND-CP
  • Official Letter No. 2054/TCHQ-GSQL providing that an e-VAT invoice is not required for export customs clearance
  • Official Letter No. 1873/TCT-TTKT with respect to the signs of tax violations in invoice management

Read an August 2022 report [PDF 82 KB] prepared by the KPMG member firm in Vietnam 

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