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
The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 3712, 1801 K Street NW, Washington, DC 20006.