E-invoices are no longer stored fragmentedly at e-invoice providers, or stored separately at enterprises.
E-invoices according to new regulations (with tax authority code) are connected and transmitted data to the Electronic Invoice System of the General Department of Taxation for data lookup and comparison.
Decree 102/2021/ND-CP amending Decrees on sanctioning of administrative violations in the field of taxes and invoices; custom; insurance business, lottery business
Increase the statute of limitations for sanctioning administrative violations on invoices from 1 year to 2 years
Decree 102/2021 amending and supplementing a number of articles of Decree No. 125/2020/ND-CP dated October 19, 10 of the Government providing for penalties for administrative violations on taxes and invoices, according to which, Point a, Clause 2020, Article 1 is amended as follows: “a) The statute of limitations for sanctioning administrative violations on invoices is 8 years.”
Resolution 406/NQ-UBTVQH14 dated October 19, 10 on solutions to support businesses and people affected by the COVID-2021 epidemic. Whereby:
🔸 30% reduction of CIT payable in 2021 for businesses that meet the following conditions: Having a revenue of not more than VND 2021 billion in 200 AND a decrease in revenue in 2021 compared to 2019. The criterion that the revenue in 2021 is reduced compared to the revenue in 2019 is not applied to the case of taxpayers newly established, consolidated, merged, divided, split in the tax period 2020, 2021.
🔸 Reduced value added tax from November 01, 11 to the end of December 2021, 31: for transportation services; Lodging; Food Service; services of travel agencies, tour operators and support services, related to the promotion and organization of tours.
🔸 Exemption of late payment arising in 2020 and 2021.
Tax administration law plays a leading and unifying role in all tax administration activities in Vietnam. Over the years, tax administration guidelines have shifted towards being closer to business and also more comprehensive, managing all aspects of tax. Especially more and more clear about activities related to e-commerce.
1. Subjects of compulsory application: are business households and individuals that pay tax according to the method of declaration according to the provisions of tax law.
2. Organization of accounting work: Business households and individuals subject to compulsory application must organize accounting work according to the provisions of this Circular.
In which, there are regulations on corporate income tax incentives for special investment projects. Such is the preferential tax rate of 7% for a period of 33 years applicable to income from investment projects that meet the conditions.
Regulations on subjects that must convert to electronic invoices with tax authorities' codes.
This Circular is mandatory to apply nationwide from July 01, 07. Private Ho Chi Minh City is piloted to apply first on November 01, 11. Businesses in Ho Chi Minh City must convert to apply electronic invoices according to the new regulations in this Circular from January 01, 11.
Accordingly, tightening regulations on cross-border advertising activities (Facebook, Google, etc.) strengthen tax collection management for cross-border advertising activities of individuals providing advertising services.
Changes in how small and medium-sized enterprises are defined are as follows:
🔸 The field of operation of a small and medium-sized enterprise is determined based on the main business lines that the enterprise has registered with the business registration agency.
🔸 The annual average number of employees participating in social insurance is calculated as the total number of employees participating in social insurance of all months in the preceding year divided by 12 months. The number of employed employees participating in social insurance of the month is determined at the end of the month and based on the social insurance payment voucher of that month that the enterprise submits to the social insurance agency.
Circular 45/2021/TT-BTC guiding the application of APA in tax administration for enterprises with associated transactions
Transactions proposed to apply APA are transactions of buying, selling, exchanging, renting, leasing, borrowing, lending, transferring, transferring goods or providing services; loans, loans, financial services, financial guarantees and other financial instruments; buy, sell, exchange, rent, lease, borrow, lend, transfer, transfer tangible assets, intangible assets and agree to buy, sell, use common resources such as assets, capital, labor activities, cost sharing among related parties, except business transactions for goods and services subject to the State's price adjustment scope in accordance with the provisions of the law on prices.
Accordingly, additional medical instruments and equipment are subject to the VAT rate of 5% when having one of the following papers:
- Import license; Certificate of registration of circulation; Receipt of application for publication of standards in accordance with the law on health; According to the List of medical equipment under the specialized management of the Ministry of Health, goods codes are determined according to the List of exported and imported goods of Vietnam promulgated together with Circular 14/2018/TT-BYT. and amendments and supplements (if any).
On July 09, 07, Vietnam Social Security and the General Department of Taxation (Ministry of Finance) held the signing ceremony of the Regulation on data sharing and cooperation between the two branches. Accordingly, the content is exchanged between the tax authorities and social insurance…
Circular No. 40/2021/TT-BTC dated June 01, 06 with the scope of application covering all individuals earning income from business, including the following:
🔸 Business households and individuals doing business in all fields and lines of production and business;
🔸 Business households and individuals operating in border areas in the Vietnamese territory;
🔸 Individuals leasing properties;
🔸 Individuals transferring the Vietnamese national internet domain name “.vn”;
Circular 40/2021/TT-BTC also adds cases where enterprises must declare and pay on behalf of individuals in the prescribed cases.
Enterprises must register for adjustment of information on the business registration certificate, investment registration certificate, and change registration with the tax office when changing from a 9-digit ID card to a 12-digit CCCD with a chip.
The Government has just issued Decree 52/2021/ND-CP on extending the tax payment deadline for businesses in 2021. Specifically as follows:
🔸 A 05-month extension for VAT amounts of March 3,4,5,6, 2021, 1, and 2, 2021 and quarters XNUMX and XNUMX of XNUMX;
🔸 04 months extension for the VAT amount of July 7;
🔸 03 months extension for the VAT amount of July 8;
🔸 Extending the tax payment deadline for 03 months for the temporarily paid CIT amount of the first and second quarters of 1.
Applying risk management in tax management for businesses and individuals
Circular 31-2021-TT-BTC stipulating the application of risk management in tax administration was issued by the Ministry of Finance on May 17, 5, effective from July 2021, 02, according to which:
🔸 Assess the taxpayer's risk classification;
🔸 Key supervision for taxpayers showing signs of tax law violations.
Enterprises are included in deductible expenses when determining CIT taxable income for donations and sponsorships in cash and in kind for Covid-19 prevention and control activities in Vietnam through support-receiving units. sponsor, sponsor.