Tax Newsletter 2022

Stay up-to-date with the latest tax notices and legal environment to know the latest changes to tax laws and laws related to your business!

CONTENTS UPDATED

MONTH 04-2022

From April 21, activate e-invoices nationwide

The General Department of Taxation has set a target to achieve at least 50% by May 10, 5, 2022% by May 31, 5, and by the end of June 2022, 90, 30% of enterprises and organizations must be completed. economic, individual - business households switch to using electronic invoices.

MONTH 03-2022

Guidance on compliance with the inspection of foreign investment activities in Vietnam

Circular 02/2022/TT-BKHDT dated February 12, 02, effective from April 22, 01 guiding the supervision and evaluation of investment for foreign investment activities in Vietnam. Whereby:

Foreign-invested economic organizations and foreign-invested projects operating in the Vietnamese territory shall be subject to investment supervision and assessment regarding issues such as: Progress of charter capital contribution ; Project deployment progress; The performance of financial obligations; The implementation of legal provisions on labor, foreign exchange management, environment, land, construction, fire prevention and fighting and other specialized legal regulations; Borrowing and repaying loans…

See details in the article

MONTH 02-2022

Reducing VAT from 10% to 8% in 2022 (From February 01 – Detailed application instructions)

2% reduction of value added tax rate in 2022, applicable to groups of goods and services currently subject to the value-added tax rate of 10% (remaining 8%), except for some of the following groups of goods and services: telecommunications, information technology, financial activities, banking, securities, insurance, real estate trading, metals, prefabricated metal products, mining products (excluding coal mining), coke, refined petroleum , chemical products, goods and services subject to excise tax.
Look up the list of goods and services that cannot be reduced and instructions on how to write a VAT reduction invoice, please see the detailed article content.

MONTH 01-2022

Resolution 11/NQ-CP on tax payment extension 2022

Extension of deadlines for payment of corporate income tax, personal income tax, value-added tax, excise tax and land rent in 2022 according to Resolution 11/NQ-CP dated January 30, 01 on Socio-economic recovery and development program and implementation of Resolution 2022/43/QH2022 on fiscal and monetary policies to support the Program issued by the Government.
Specific application: Wait for instructions.

Circular 88/2021/TT-BTC on accounting regime for business households and individuals

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.

Decree 102/2021/ND-CP on penalties for administrative violations in the fields of taxation, invoices, accounting and auditing

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.”

Foreign workers pay social insurance from January 01, 01

From January 01, 01, foreigners will have to participate in social insurance and health insurance regimes according to Decree 2022/143/ND-CP, Law on Health Insurance Amendment 2018 and Decision 2014/QD-BHXH according to regulations. Specific rates are as follows:

Enterprises pay: 20.5%, foreign workers pay: 9.5%

Circular 100/2021/TT-BTC amending Circular 40/2021/TT-BTC on tax for business households and individuals

Amended from January 01, 01: Individuals with less than 2022 million VND/year in rental income are not required to pay tax.
Accordingly, Circular 100/2021/TT-BTC amends the tax calculation method for individuals leasing properties at point c, clause 1, Article 9 of Circular 40/2021/TT-BTC as follows:

– Individuals who only have property leasing activities and the rental period is not for a whole year, if they generate rental revenue of 100 million VND/year or less, they are not required to pay VAT and PIT.

– In case the lessee pays rent in advance for many years, the revenue level to determine whether an individual must pay tax or not pay tax is the one-time payment amortized according to the calendar year.

Currently, Circular 40/2021/TT-BTC stipulates that individuals who lease property without generating revenue for full 12 months in a calendar year (including cases with many lease contracts) shall:

The level of turnover of 100 million VND/year or less to identify individuals who lease properties is not required to pay VAT and PIT is the taxable revenue of a calendar year (12 months).

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