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2019 | Tax and Legal Alerts

2019 | 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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Legal Alert August 2019 | New rules on foreign exchange control applicable to foreign direct investment activities in Vietnam

On 26 June 2019, the State Bank of Vietnam (“SBV”) issued Circular 06/2019/TT-NHNN providing guidelines on foreign exchange control for foreign direct investment (“FDI”) activities in Vietnam (“Circular 06”). Circular 06 will come into effect on 6 September 2019 and replace Circular 19/2014/TT-NHNN dated 11 August 2014 of the SBV on the same subject matter (“Circular 19”).

 

Tax and Legal Update August 2019 | Proposed amendment to Decree 20 on interest deductibility

On 1 May 2017, Decree 20 introduced a new interest deductibility rule which limits the tax deduction of the company’s total interest expense to 20% of its earnings before interest, tax, depreciation and amortization (“EBITDA”).

  • Explore English Version: HERE  | Explore Vietnamese Version: HERE

 

The impact on financial institutions from changes to the taxation of e-commerce in Vietnam

On 13 June 2019, the National Assembly of Vietnam passed a new Law on Tax Administration (“LTA”) which will place more roles and responsibilities on financial institutions to facilitate tax withholding and collection for imported goods and services via digital and e-commerce business models.

  • Explore English Version: HERE  

 

Key changes under the Law on Taxation Administration 2019

On 13 June 2019, the National Assembly ratified the Law on Taxation Administration No. 38/2019/QH14 (“LTA”) which takes effect on 1 July 2020 (except for e-invoicing application taking effect on 1 July 2022

  • Explore English Version: HERE  | Explore Vietnamese Version: HERE

 

Taxation of e-commerce in Vietnam

On 13 June 2019, the National Assembly of Vietnam passed a new tax administration law (“LTA”) which will impact many non-resident enterprises selling goods and services into Vietnam via digital and e-commerce business models.

  • Explore English Version: HERE  

 

KPMG Technical Update June 2019 Tax and Legal

Providing updated tax developments on Corporate income tax (“CIT”); Value Added Tax (“VAT”) and Invoice; Foreign Contractor Tax (“FCT”);  Import duty, export duty and customs procedures; and Personal Income Tax (“PIT”) and labor regulations

  • Explore English Version: HERE  | Explore Vietnamese Version: HERE

 

KPMG Technical Update January 2019 Tax and Legal

Providing updated tax developments on  Corporate Income Tax;  Value Added Tax (“VAT”) and invoices; Export tax, import tax and customs and  Personal Income Tax (“PIT”) and labour

  • Explore English Version: HERE  | Explore Vietnamese Version: HERE

 

 Tax and Legal Alert February 2019

New Decree on Special Consumption Tax

  • Explore English Version: HERE  | Explore Vietnamese Version: HERE

 

Tax Refund Alert 2019 

VAT refundable for investment project with investment period of less than one year 

  • Explore English Version: HERE  | Explore Vietnamese Version: HERE

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