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Tax and corporate management newsletter 2024

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

MONTH 04–2024

The General Department of Taxation directs the prevention and strict handling of fraud and taking advantage of personal information to declare and calculate salary costs.

WARNING

Enterprises need to pay attention to managing personal information when declaring salaries and wages:

1- The General Department of Taxation directs the prevention and strict handling of businesses that commit fraud and take advantage of personal information to declare and calculate salaries and wages for the purpose of tax evasion and reduction of obligations. tax

2- Direct local tax authorities to inspect and examine when there are violations mentioned above

The General Department of Taxation directs to strengthen tax management for goods purchasing activities in the form of Lists

BUYING ENTERPRISE

The General Department of Taxation directs to strengthen tax management for goods purchasing activities in the form of Lists:

Strengthen verification of cases of purchasing goods and services in the form of Lists specified in Point 2.4, Clause 2, Article 6 of Circular No. 78/2014/TT-BTC dated June 18, 6 of the Ministry of Finance (approved Amended in Article 2014 of Circular No. 4/96/TT-BTC dated June 2015, 22) to determine the reasonableness and legality... as a basis for determining deductible expenses when calculating corporate income tax reasonably and in accordance with regulations. determine and avoid loss of state budget revenue.

MONTH 03–2024

MONTH 02–2024

Stop making additional declarations and adjustments for taxpayers at the request of the investigation agency

WARNING

The General Department of Taxation requests that the Tax Departments of provinces and cities, upon receiving a written request from the security agency/police investigation, "block" taxpayers' declarations/temporarily stop allowing taxpayers to make additional declarations or "temporarily stop allowing taxpayers to make additional declarations or" block/temporarily stop taxpayers from declaring, adjusting, supplementing, adjusting or reducing deductible VAT amounts and adjusting and reducing costs for input invoices of some businesses purchasing goods and services from other businesses. The company is being investigated by the police for illegal invoice trading.

Tax exemption for innovative start-up activities arising in Ho Chi Minh City

Exemption from corporate income tax and personal income tax for income from innovative start-up activities arising in Ho Chi Minh City as follows:

1- Innovative startups, science and technology organizations, innovation centers and intermediary organizations supporting innovative startups (collectively referred to as enterprises) with income from activities Innovative startups arising in Ho Chi Minh City are exempt from corporate income tax on this income.

2- Organizations that have income from transferring capital contributions and the right to contribute capital to creative startups in Ho Chi Minh City are exempt from corporate income tax on this income.

3- Individuals who have income from transferring capital contributions or the right to contribute capital to creative start-up enterprises in Ho Chi Minh City are exempt from personal income tax on this income.

MONTH 01–2024

Do you need support?

We hope that you will find the EXPERTIS Tax Update useful and we welcome the opportunity to further discuss the issues presented and their impact on your business.

ACTIVE UPDATE TAX NEWSLETTER