Below are the text updates from the past week:

Value Added Tax

• Official Dispatch 13145/BTC-CST (December 3, 2024): The Ministry of Finance drafts a Decree to reduce VAT by 2%, applicable from January 1, 2025.
• Official Dispatch 3832/CTTNI-TTHT (November 27, 2024): Regarding foreign currency capital contribution of foreign investors, only actual capital contribution is determined, VAT refund will not be given if charter capital is insufficient.

Corporate Income Tax

• Official Dispatch 8195/CTBGI-TTHT (November 27, 2024): Companies are allowed to offset taxable income between different business activities and declare additional tax records when there are errors.
• Official dispatch 30305/CTBDU-TTHT (November 27, 2024): Labor accident compensation costs are included in valid expenses if they comply with regulations, personal income tax is exempted from this compensation.

Bill

• Official dispatch 2928/CTVPH-TTHT (December 5, 2024): Non-cash payments, if they meet the conditions, will be deducted from VAT and deducted from income subject to corporate income tax.
• Official Dispatch 3152/CTHNA-TTHT (December 4, 2024): Adjustment or replacement invoice is required when returning goods.
• Official Dispatch 23242/CTBRV-TTHT (December 4, 2024): Export invoice issued after completing customs procedures.
• Official Dispatch 3840/CTTNI-TTHT (November 27, 2024): Project transfer, tax declaration according to regulations, no invoice when contributing capital with assets.