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WAREHOUSE OF ENTERPRISE MANAGEMENT KNOWLEDGE

Specialized content, carefully edited, compiled and updated by the Expertis Committee

Tax knowledge for directors

  • Tax authorities and the fight against profiteering from value added tax (VAT)
  • Do not leave when being subject to tax enforcement
  • Banks must provide personal banking data to the tax authorities
  • Tax administration for enterprises with associated transactions from 2020
  • Tax obligation when the business is suspended
  • Sanctions for administrative violations on taxes and invoices (from December 05, 12)
  • Knowledge of Tax Administration should know for businesses
  • How businesses make tax planning (Tax Planning)
  • Tax policy: a constant worry of foreign investors
  • Schedule for submitting tax returns 2020
  • Tax administration assignment in Ho Chi Minh City

Knowledge of tax examination - tax settlement

  • Tax authorities and the fight against profiteering from value added tax (VAT)
  • Provision for devaluation of inventory
  • Correct understanding of the time to issue invoices
  • Provisions on tax assessment from 2020
  • Are royalties subject to contractor tax
  • Tax examination procedures are issued by the General Department of Taxation
  • Reasonable and valid expenses are deductible when the enterprise makes tax finalization

Knowledge of related transactions

  • Tax strictly controls associated transactions against transfer pricing: What should Vietnamese enterprises do?
  • Declare associated transactions for businesses in Vietnam
  • Transfer pricing: Vietnamese enterprises are careful to collect tax arrears
  • Guide on Affiliate Transactions for Enterprises in Vietnam
  • Affiliate transactions (transfer pricing) – Part 4: guidance on declarations and records
  • Affiliate transactions (transfer pricing) – Part 3: Classification of associated transactions and the principle that the substance determines the form
  • Affiliate transactions (transfer pricing) – Part 2: Transfer pricing methods of multinational companies in Vietnam
  • Affiliate transactions (transfer pricing) – Part 1: Tax basis and profit transfer
  • Tax administration for enterprises with associated transactions from 2020
Legal regulations on affiliate transactions (Transfer pricing)
  • Circular 45/2021/TT-BTC guiding the application of APA in tax administration for enterprises with associated transactions
  • Official Dispatch 271/TCT-TTKT introducing new contents of Decree 132/2020/ND-CP on tax administration for enterprises with associated transactions
  • Appendices of Decree 132/2020/ND-CP on related-party transactions
  • Decree 132/2020 / ND-CP on tax administration applicable to enterprises with associated transactions
  • Official Letter 2835/TCT-TTKT guiding the implementation of Decree 68/2020/ND-CP issued by the General Department of Taxation
  • Decree 68/2020/ND-CP amending and supplementing Decree 20/2017/ND-CP on tax administration for enterprises with associated transactions
  • Circular 41/2017/TT-BTC guiding the implementation of Decree 20/2017/ND-CP stipulating tax administration for enterprises with associated transactions
  • Decree 20/2017 / ND-CP on tax administration applicable to enterprises with associated transactions

Tax law provisions

  • Decree No. 15/2022/ND-CP stipulating tax exemption and reduction under Resolution 43/2022/QH15
  • Identify tax incentives for software
  • Circular 19/2021/TT-BTC guiding electronic transactions in the tax field
  • Regulations on Consolidation of legal documents and how to use Consolidated documents
Tax Administration
  • Circular 80/2021/TT-BTC guiding tax administration from January 01, 01
  • Circular 78/2021/TT-BTC on invoices and documents
  • Official Letter 6770/CTTPHCM-KK on filing tax returns during the implementation of Directive 16/CT-TTg
  • Circular 31/2021/TT-BTC on risk management in tax administration
  • Circular 105/2020/TT-BTC dated December 03, 12 guiding tax registration
  • Decree 126/2020 / ND-CP guiding the Law on Tax Administration 2019
  • Law on Tax Administration 2019 (Law No. 38/2019/QH14)
  • Circular 119/2014/TT-BTC amending the application of tax declaration by deduction method
V.a.t tax
  • Decree No. 15/2022/ND-CP stipulating tax exemption and reduction under Resolution 43/2022/QH15
  • Reducing VAT from 10% to 8% in 2022 (From February 01 – Detailed application instructions)
  • Circular 43/2021/TT-BTC supplementing medical instruments and equipment subject to VAT rate of 5%
Corporate income tax
  • Circular 71/2021/TT-BTC providing guidance on corporate income tax for establishments carrying out socialization that have not yet been collected according to Resolution 63/NQ-CP dated May 25, 5
  • Costs related to Covid are included in business expenses and not included in personal income taxable income
  • Decision 29/2021/QD-TTg on special investment incentives
  • Decree 57/2021/ND-CP on corporate income tax incentives for projects producing supporting industry products
  • Circular 03/2021/TT-BTC guiding the CIT exemption and reduction for science and technology enterprises
personal income tax
  • Changes in the way to calculate PIT in 2022
  • Legal regulation system of personal income tax
Receipts
  • Official Dispatch 5113/TCT-CS guiding some contents about e-invoices
  • Official Letter 4144/TCT-CS General Department of Taxation introduces new contents in Circular 78/2021/TT-BTC guiding invoices and documents
  • The process of managing electronic invoices issued by the General Department of Taxation
  • Decree No. 123/2020 / ND-CP on invoices and documents
  • Circular 88/2020/TT-BTC amending and supplementing Article 26 of Circular 68/2019/TT-BTC
  • Circular 68/2019/TT-BTC guiding Decree 119/2018/ND-CP on e-invoices when selling goods and providing services
  • Consolidated document 11/VBHN-BTC in 2018 guiding the implementation of Decree 51/2010/ND-CP and 04/2014/ND-CP on invoices for selling goods and providing services
  • Circular 39/2014/TT-BTC guiding the implementation of Decree 51/2010/ND-CP and Decree 04/2014/ND-CP stipulating invoices for selling goods and providing services
  • Decree 04/2014/ND-CP amending and supplementing a number of articles of Decree No. 51/2010/ND-CP dated May 14, 05 regulating invoices for selling goods and providing services
  • Decree 51/2010 / ND-CP on invoices for selling goods and providing services
Penalties for administrative violations of tax and invoices
  • Decree 102/2021/ND-CP on penalties for administrative violations in the fields of taxation, invoices, accounting and auditing
  • Decree 125/2020/ND-CP stipulating penalties for administrative violations on taxes and invoices
Extension, tax exemption and reduction due to Covid-19
  • Resolution 11/NQ-CP on tax payment extension 2022
  • Resolution 43/2022/QH15 on fiscal and monetary policies to support the socio-economic recovery and development program
  • Decree 92/2021/ND-CP guiding Resolution 406/NQ-UBTVQH15 on tax exemption and reduction
  • Official Letter 3887/TCT-CS on business support and sponsorship for COVID-19 prevention and control activities
  • Decree 52/2021/ND-CP extending the deadline for payment of VAT, CIT, PIT and land rent in 2021 (Due to Covid-19)
  • Decree 41/2020/ND-CP Extension of deadlines for payment of VAT, CIT, PIT and land rent (Due to Covid-19)

Updating tax events news

  • Notes for individuals and businesses when finalizing taxes in 2021
  • Necessary documents and deadline for personal income tax finalization in 2022
  • Is it necessary to declare tax when there is no personal income tax?
  • Will there be a penalty for not finalizing personal income tax in 2022?
  • Decree No. 15/2022/ND-CP stipulating tax exemption and reduction under Resolution 43/2022/QH15
  • Reducing VAT from 10% to 8% in 2022 (From February 01 – Detailed application instructions)
  • Manage input and output information of businesses and individuals through electronic invoices
  • Transfer pricing: Vietnamese enterprises are careful to collect tax arrears
  • If I do not generate income, do I have to declare PIT?
  • Tax risk assessment and key monitoring of taxpayers from July 02, 07
  • Guide to PIT finalization in 2020
  • Exemption or reduction of corporate income tax for science and technology enterprises
  • Schedule for filing all kinds of tax returns for 2021
  • New regulations on tax declaration for businesses from December 12
  • New point of Decree 126 / ND-CP on tax administration is applicable from December 05, 12
  • Carefully get penalized with Provisional Corporate Income Tax
  • Banks must provide personal banking data to the tax authorities
  • Increased penalties for administrative violations of taxes and invoices from December 05, 12
  • Tax administration for enterprises with associated transactions from 2020
  • Not required to use e-invoices from 01/11/20
  • Cases of wrong electronic invoicing need to be handled
  • Decree 114/2020 / ND-CP guiding the implementation of tax reduction of 30% of CIT payable by 2020
  • Official Letter 3867 / TCT-KK in 2020 regarding refund of overpaid value-added tax due to incorrect payment
  • 3867 / TCT-KK on overpaid VAT refund
  • Guide to properly implement tax policies for advertising activities on Facebook, Google
  • Official Letter 2578 / TCT-CS dated 23/6/2020 on the time required to use e-invoices
  • Official Letter 3529 / TCT-KK on refunded VAT policy for investment projects that are terminated
  • Official Letter 3185 / TCT-HTQT 2020 on withholding tax paid abroad from tax payable in Vietnam
  • Official Letter 2668 / TCT-CS in 2020 on value added tax policy for enterprises when transformed into export processing enterprises issued by the General Department of Taxation
  • 9 new points to know about the Tax Administration Law 2019 (effective from July 01, 07)
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  • Tax risk assessment and key monitoring of taxpayers from July 02, 07

Tax risk assessment and key monitoring of taxpayers from July 02, 07

Category
  • The scope of adjustment and the object of application
  • The scope of regulation is extensive and wide
  • Issuing tax law compliance assessment criteria
  • Overview of tax compliance levels, taxpayer risk

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.

Here are the points that businesses need to understand and have a plan to avoid being classified as high-risk cases.

The scope of adjustment and the object of application #

Circular No. 31/2021/TT-BTC stipulating the application of risk management in tax administration by tax authorities at all levels, including: Collection, processing, management and use of information related to people pay taxes for risk management; Assess tax compliance and classify taxpayers' risk; Apply tax management professional measures corresponding to the level of tax compliance and taxpayer risk.

Subjects of application include: Taxpayers; Tax authorities; Tax officials; State agencies, organizations and individuals concerned as prescribed in Article 2 of the Law on Tax Administration.

The scope of regulation is extensive and wide #

In particular, risk management information is collected from information sources inside and outside the tax authority (including information from abroad) in accordance with the law; are centrally managed at the General Department of Taxation through an information technology application system and processed, shared, and provided to tax authorities at all levels and other state management agencies to serve the purpose. tax administration in accordance with the law.

In addition, the assessment and classification of tax compliance and taxpayer risk is carried out automatically, periodically, according to one or a combination of methods specified in this Circular on the basis of the basis of the provisions of law, processes and professional measures of tax administration, based on the taxpayer segment, the criteria specified in this Circular and the database of taxpayers.

Based on the results of tax compliance assessment, taxpayer risk classification, information available on tax administration support applications, information on signs of violations, marks Other risk signals provided at the time of decision-making, the tax authority shall: decide to examine, inspect, supervise and apply appropriate professional measures; Develop an overall compliance improvement plan in line with the tax authority's resources based on the results of analyzing the nature of behavior, causes and scale of each level of tax compliance and risk level.

Issuing tax law compliance assessment criteria #

The content of the Circular stipulates publicly the assessment criteria for tax compliance and the level of taxpayer risk (not promulgated under the confidentiality regime as previously done due to the set of risk assessment criteria in management). tax documents are not on the list of confidential documents of the Ministry of Finance).

In addition, the tax authority (General Department of Taxation) is responsible for promulgating indicators and criteria in order to achieve the goal of helping tax authorities implement risk management to be flexible and proactive in changing Criteria indicators to suit the reality of tax administration in each period; contribute to reducing unnecessary administrative procedures for ministerial-level management agencies.

The assessment of tax compliance for taxpayers and taxpayer ranking results is one of the criteria for risk analysis in tax management operations. The results of risk analysis are inherited, the evaluation results in the previous stage are part of the evaluation criteria in the later stages.

Overview of tax compliance levels, taxpayer risk #

Regarding risk analysis and risk classification to apply appropriate tax management measures, the Circular guides risk analysis based on: assessment of tax compliance, risk classification taxpayers and classification of taxpayer risk in tax administration operations. Based on the results of this assessment of the taxpayer's compliance and risk level to assess and classify the overall risk level of the taxpayer. Since then, the tax authorities have taken appropriate tax management measures. Specifically:

Firstly, the group of criteria to assess the level of tax compliance: mainly based on the analysis of compliance when declaring tax returns, paying taxes fully, accurately and on time or not.

Secondly, the group of criteria for classifying taxpayers' risks: basically based on the overall assessment of general information about the taxpayer's production and business activities.

Third, the group of criteria for classifying taxpayers' risk according to tax management operations: is a group of criteria that are set out in accordance with each tax management professional requirement in each locality and period. different.  

Accordingly, the level of tax compliance is regulated to include 4 levels, including: Level 1: High compliance; Level 2: Moderate compliance; Level 3: Low compliance; Level 4: Non-compliance.

For the risk classification of taxpayers as enterprises according to 5 classes, including: Class 1: Taxpayers with very low risk; Class 2: Low-risk taxpayers; Rank 3: Medium-risk taxpayers; Class 4: High-risk taxpayers; Rank 5: Taxpayer very high risk.

Particularly for "Grade 6. Taxpayers established under 12 months" specified in Circular No. 204, have been omitted. The separate classification and supervision are suitable to the requirements of each operation when performing risk assessment.

Regulations on classification of risk levels Taxpayers in tax administration operations are classified according to 03 levels, including: High risk; Medium risk; Low risk. For the regulation on application of risk management in tax administration, which will be applied to each tax administration operation, it will specify the management measures to be applied corresponding to the level of risk, in order to guide to improve the effectiveness of tax administration and voluntary compliance of taxpayers.

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Updated on November 22, 2021
Guide to PIT finalization in 2020If I do not generate income, do I have to declare PIT?

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Category
  • The scope of adjustment and the object of application
  • The scope of regulation is extensive and wide
  • Issuing tax law compliance assessment criteria
  • Overview of tax compliance levels, taxpayer risk
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