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2017 | Tax and Legal Alerts

2017 | Tax and Legal Alerts

Summaries of the latest tax developments being reported by KPMG Vietnam.

Summaries of the latest tax developments being reported by KPMG Vietnam.

We hope that you will find KPMG’s Tax Alerts useful and we welcome the opportunity to further discuss the issues presented and their impacts on your business.

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2017

  • Tax Alert Sep2017: The Ministry of Finance has recently submitted a proposal for a Draft Law amending and supplementing five tax laws, including the Laws on Value Added Tax (“VAT”), Corporate Income Tax (“CIT”), Special Consumption Tax (“SCT”), Personal Income Tax (“PIT”) and Natural Resources Tax (“NRT”).
 
  • Tax Alert Aug2017: On 24 July 2017, the Ministry of Finance issued Decision No. 1381/QD-BTC (“Decision 1381”) promulgating regulations on coordinating audit of performance of corporate finance mechanisms and policies at foreign-invested enterprises (“FIEs”). Decision 1381 took effect on 24 July 2017.
 
  • Tax Alert Jul2017/Issue 4: On 19 June 2017, the National Assembly ratified the Law on Technology Transfer No. 07/2017/QH14 (“LTT 2017”). The LTT 2017 shall take effect on 1 July 2018 and supersedes the Law on Technology Transfer No. 80/2006/QH11 dated 29 November 2006 (“LTT 2006”).
 
  • Tax Alert Jul2017/Issue 3: From 1 October 2014, when Circular 103/2014/TT-BTC took effect, foreign contractor tax (“FCT”) has not applied to the supply of goods where goods are delivered at a foreign or Vietnamese bordergate.
 
  • Tax Alert Jun2017/Issue 2: On 12 June 2017, the National Assembly (“NA”) passed the Law on Supporting SME (“SME Law”). The Law takes effect on 1 January 2018.
 
  • Tax Alert Feb2017/Issue 1: No VAT refund is available for the input vat accumulated prior to 1 July 2016, yet has been declared as a vat refund item in the VAT declaration for June 2016 or quarter ii 2016.

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