Latest Tax Newsletter May 6

“The month with the 4th outbreak and Ho Chi Minh City implemented social distancing. The authorities rarely issue new documents but focus on issuing support for businesses and individuals. In addition, it continues to issue long-term and macro-management regulations on taxes.

Extension of tax payment in 2021 for businesses

Enterprises are entitled to a 5-month extension of tax payment for the VAT amount incurred in March, April, June, and June 3,4,5,6, a 2021-month extension for tax payment for the VAT amount incurred in the first quarter of 5 and the second quarter of 1. 2021, 2-month extension of tax payment for the VAT amount incurred in July 2021, a 4-month extension for tax payment for the VAT amount incurred in August 7. Extension of tax payment for 2021 months for the temporarily paid CIT amount of the 3st and 8nd quarter of 2021.

See More3 May, 2021

Changing tax registration information when renewing chip-based citizen identification

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.

See More15 May, 2021

Tax rates and tax administration for business households and individuals from August 01, 08

Circular 40/2021/TT-BTC dated June 01, 06 with a broad scope of application to all individuals earning income from business, including the following: 🔸 Business households, business individuals of all the 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 2021/40/TT-BTC also adds cases where enterprises must declare and pay on behalf of individuals in the prescribed cases.

See More1 June, 2021

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 for business transactions for goods and services subject to the State's price adjustment scope in accordance with the law on prices.

See MoreAugust 3, 2021