Latest Tax Newsletter May 7

“The strategy, focus and enforcement policy of the tax shift from controlling individual units to controlling risks by group of enterprises. Companies need to balance business priorities and ensure compliance is maintained.”

Summary of tax support for businesses facing difficulties due to Covid-19

This is a collection of policies to support tax payment extension, tax exemption and reduction for businesses affected by the Covid-19 pandemic. The support and application guidelines of the competent authority were issued during the period of the Covid-19 epidemic in Vietnam.

See More1 July, 2021

General support for employees and employers facing difficulties due to Covid-19

This is a summary of support policies for employees and employers facing difficulties due to the impact of the Covid-19 pandemic. The support was issued during the outbreak of the Covid-19 epidemic in Vietnam.

See More1 July, 2021

If I do not generate income, do I have to declare PIT?

The new guidance of the General Department of Taxation is: Organizations and individuals that do not pay PIT in any month/quarter are not required to declare PIT for that month/quarter. However, this leads to the risk that if the enterprise discovers errors at the end of the year, the return of the declaration of that month/quarter will lead to an administrative penalty due to the delay in the PIT declaration. 

See More1 July, 2021

Vietnam Social Insurance signed a data sharing agreement with the General Department of Taxation

The regulation also stipulates what data is shared between the two agencies. Data shared by tax authorities includes: Tax registration information of taxpayers; personal information in the organization paying the income; information recording the deduction and deduction of social insurance and health insurance premiums at organizations paying income through inspection and examination. Data shared by the social insurance agency includes: Information about income payers participating in social insurance and health insurance; personal information in income paying organizations participating in social insurance and health insurance; information on payment of social insurance and health insurance premiums of organizations paying income through inspection and examination.

See More9 July, 2021
EN VI