The Law amending tax laws No. 106/2016 / QH13 dated April 06, 4 has the following new points:
– The penalty for late tax payment in 2016 is only 0,03%/day calculated on the amount of late tax payment.
- Deregulation that business establishments (CSKD) are entitled to non-deductible input value-added tax (VAT) refund if accumulated after at least 12 months or 4 quarters from the month, the first quarter incurred VAT not deducted.
- Business establishments are not entitled to VAT refund, but may carry forward the undiscarded tax amount of investment projects to the next period in the following cases:
- Investment projects of businesses do not contribute enough charter capital as registered; business in conditional business lines when there are not enough Business Conditions or do not guarantee to maintain Business Conditions during operation;
- Investment projects on exploitation of natural resources and minerals (TNKS) are licensed from 01 / 7 / 2016 or investment projects to produce goods products whose total value of TNKS plus energy costs account for from 51% of cost products or more.
Don't get hit with late taxes in 2016!
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