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New guidance on corporate income tax

The Government has promulgated Decree No. 218/2013/NĐ-CP to provide guidance on the implementation of the Law on Enterprise income tax.

Policies effective from January 01, 2014

Many new policies come into force from January 01, 2014 such as new regulations on advertising, valuation, VAT etc.

Use of foreign currencies in Vietnam

The State Bank has issued Circular 32/2013/TT-NHNN providing guidance on the cases in which foreign currencies may be used in Vietnam. For instance:

Significant documents updated last week (Dec. 23 - Dec. 28)

Reduction in motor vehicle insurance premium paid by insurers, Resolution on Severance tax, guidance on cancellation of uncollectible taxes and fines incurred before July 01, 2007... are some of the new policies introduced last week (December 23 - December 28)

Stamps for imported wine to be charged

From January 01, 2014, stamps for imported wine will be sold instead of being dispensed free of charge.

Significant documents updated last week (Dec. 15- Dec. 21)

More cases of VAT exemption; penalties for administrative customs offences; application of deduction method to VAT calculation, traffic police officers allowed to shoot attackers... are some of the new policies introduced last week (December 15 - December 21)

Severance tax 2014

The Standing committee of the National Assembly of the Socialist Republic of Vietnam has issued the Resolution No. 712/2013/UBTVQH13 on rates of tax on resources, which comes into force from February 01, 2014.

Responses to queries concerning Circular 128/2013/TT-BTC assembled

At the beginning of July, the Ministry of Finance issues the Circular No. 128/2013/TT-BTC on customs procedure, customs supervision and customs inspection of exported or imported goods, and tax administration of exported or imported goods.

More articles exempt from VAT

On December 18, 2013, the Government has promulgated the Decree No. 209/2013/NĐ-CP, providing guidance on some new regulations of the amended Law on Value-added tax.

Prominent policies to come into effect from 21 to 30 December

In the last days of 2013, there will be a number of new regulations and to be applied as follows:

Guidance on registration for VAT calculation methods

Recently, the Ministry of Finance has Official Dispatch 17557/BTC-TCT guiding implementation of provisions in the amended VAT Law, which take effect from January 01, 2014.

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