Technical Updates
Concentrating on the practical, up-to-date guidance on financial reporting and legal requirements for your consideration

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Legal Alert December 2021 

According to Decree No. 07/2016/ND-CP dated 25th January 2016 of the Government (“Decree 07”) guiding    the Commercial Law on representative offices of foreign entities (“RO”) in Vietnam, ROs are required to    submit an annual operation report (“Annual Report”) to the provincial Department of Industry and Trade    no later than 30th January of the following year. 

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Tax Alert December 2021

The General Department of Taxation (“GDT”) issued the Official Letter No. 4110 dated October 27, 2021 on the tax treatment related to Covid-19 expenses (“OL 4110”). According to OL4110, the GDT lists out a number of expense items that shall not be taken into account for PIT calculation of the employees whilst being deductible for Corporate Income Tax (“CIT”) if the expenses are incurred and are supported by legitimate supporting documents,

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GMS Flash Alert December 2021    

It is necessary to start implementing the compulsory SI policy for foreign employees to help ensure their  rights and obligations while working in Vietnam and to level the playing field with respect to local hires. The  scheme allows the participants to enjoybenefits from the SI fund, when eligible.  

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GMS Flash Alert December 2021  

On 14th December 2021, the Social Insurance Agreement (“the SIA”) between Vietnam and Korea was  signed by the Minister of Labour, War Invalids and Social Affairs (Vietnam) and the Minister of Health and  Welfare (Korea) on behalf of the Governments of the two countries.  

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Alert on immigration

On 16th December 2021, the Ministry of Health issued Official letter No. 10688/BYT-MT to other relevant  Ministries and Provincial People Committees to give guidance on implementation of Covid-19 preventive  measures for passengers who enter Vietnam from 01st January 2022. 

 

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Technical Update November 2021 

On 8 November 2021, the Government enacted Decree No. 98/2021/ND-CP on management of medical  devices (“Decree 98”). Decree 98 will come into effect on 1 January 2022 and replace Decree No. 36/2016/ ND-CP dated 15 May 2016 (amended by Decree No. 169/2018/ND-CP and Decree No. 03/2020/ND-CP)  (“Decree 36”).   

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Tax Alert November 2021 

The Draft Decree  amending Decree 111 (Decree  guiding the development of supporting industries ("SI") ) with the aim to clarify some regulations on determination of SI incentives, expanding the list of SI products, and also adding more criteria for permission of SI incentive.     

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Technical Update October 2021 

In our latest October release, we would like to share the very recent update on legal legislation. This includes the Draft Law altering and supplementing a number of articles of Law on Intellectual Property, the Draft Decree on penalties against administrative violations  in cybersecurity, as well as the guidelines on Law o Real Estate Trading 2014

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Legal Alert

On 25 September 2021, the Government of Vietnam issued Decree No. 85/2021/ND-CP, which takes effect on 1 January 2022. In this release, we  would like to summary  various key changes to the e-commerce platforms and activities in Vietnam in this Decree 85 for your information.


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Tax Alert (4) October 2021

On 19 October 2021, the National Assembly Standing Committee issued Resolution 406/NQ-UBTVQH15 on a number of solutions to support businesses and people affected by the Covid-19 pandemic.  According to Resolution 406, businesses and business households/individuals are entitled to various tax support policies.

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Tax Alert (3) October 2021

The Prime Minister has issued Decision 29/2021/QD-TTg dated 6 October 2021 to implement a special investment incentive policy covering Corporate Income Tax and land and surface rental fee.        


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Transfer Pricing Alert 

KPMG to underline new changes to the Advanced Pricing Agreement (“APA”) program, comments from the   General Department of Taxation ("GDT") on the reasons for the new points of Circular 45 and our insights from a professional perspective.     

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Tax Alert (2) October 2021

In this release, KPMG highlights some notable changes in respect of the tax payment allocation mechanism, principles of tax declaration and tax administration related to Circular 80. 


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Tax Alert October 2021

On 29 September 2021, the Ministry of Finance has issued Circular 80/2021/TT-BTC. The Circular provides guidance on general tax administration and   for foreign e-commerce businesses without a permanent establishment in Vietnam but  have income arising in Vietnam. 

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Tax & Legal Update September 2021

In our latest September update, we would like to share the latest on Tax and Legal regulations. This includes the Draft Resolution on tax relief measures in 2021, CIT, VAT invoicing, as well as newest regulations on cross-border advertising services.

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Tax Alert September 2021

With an attempt to minimize the negative impact of the Covid-19 pandemic on businesses and the workforce, recently the Government has issued a series of Resolutions to support businesses and individuals to stabilise business, production and social security assurance.

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Immigration Alert September 2021

On 9 September 2021, the Government issued Resolution No. 105/NQ-CP.  As part of the Resolution, the Government ordered the Ministry of Labour, War Invalids and Social Affairs to ease regulations on the issue and extension of work permits for foreign labour in Vietnam.
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Tax Alert August 2021

According to current CIT regulations, enterprises having taxable income referred to as socialization  activities can enjoy the preferential CIT rates and tax reductions.  

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Tax Alert (2) July 2021

Government's Resolution No. 68 and Decision 23 to support employees and employers facing difficulties due to the COVID-19 pandemic.  

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Tax Alert July 2021

Enhance the tax administration of e-commerce business under the issuance of Official Letter No. 1738/TCT-DNNCN.

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Transfer Pricing Alert June 2021

Administration of Advance Pricing Agreement (APA) Program under the issuance of Circular 45.
 

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Immigration Alert June 2021

Challenges on work permit issues while deploying foreign workers across Vietnam.

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Tax Alert (2) June 2021 - Decree 57

Decree 57 granting CIT incentives to investment projects  implemented before 2015 to manufacture supporting  industry products.

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Tax Alert June 2021 - Circular 40

Update on the value-added tax, personal income tax and tax administration for businesses and individuals.

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Legal Update June 2021

Update on the second draft Decree on personal data protection in Vietnam and what entrepreneurs need to know. 

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Legal Update May 2021

Update on Decree 31 providing guidance on the implementation on the Law on Investment 2020.

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Tax & Legal Update May 2021

Update on the tax and legal legislation and notable treatments introduced by the tax authorities

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Immigration Alert (2) May 2021

Official letter on enforcement of the management of foreigner working in Vietnam.

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Immigration Alert (1) May 2021

Updates on regulations related to compulsory quarantine and post-quarantine management.
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Tax Alert May 2021 - Decree 18

Decree 18 guiding the Law on Export and Import Duties.

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Tax Alert (2) April 2021

Payment deferral for Corporate Income Tax (CIT), Value Added Tax (VAT), Personal Income Tax (PIT) and land rental fee in 2021. 

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Tax Alert (1) April 2021

Tax relief measures by Vietnam Government to support taxpayers impacted by Covid-19 pandemic.
 

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Legal Update March 2021

Obtaining Anti-Trust Approval under Competition Law 2018 and Decree 35.
 

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Immigration Alert March 2021

Changes to previous labor regulations for work permit applications for expatriates.

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Audit Alert March 2021

Changes to Tax and Transfer Pricing audits approaches.
 

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Tax Alert (2) February 2021

Circular 103 - Corporate Income Tax incentives to Science & Technology Enterprises.

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Tax Alert (1) February 2021

Tax and Legal legislation updates for February 2021.
 

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Tax Alert January 2021

Circular 39 - Trade and Customs update on Integrated International Tax

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Immigration Alert (2) January 2021 

Update on quarantine policies to strengthen Covid-19 prevention measures.
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Immigration Alert (1) January 2021

Decree 152 - New regulations on work permit & work permit exemptions.

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