Tax policy

On August 12, 2022, the Ministry of Finance issues the Official Dispatch No. 8042/BTC-TCHQ on using invoices for on-spot import and export.

To calculate the input value added tax or add to the deductible expenses of taxable income, expenses for the purchase of goods or services valued at VND 20 million or more (VAT-inclusive prices) per invoice with non-cash payment documents.

Every accountant must determine deductible expenses and non-deductible expenses in order to ensure the right tax amount and enterprise's benefits. Deductible expenses for determining taxable income are defined in the following post.

Enforcement of tax administration-related administrative decisions is when the authorized individual applies the method in accordance with law provisions in order to ensure the administrative decision on tax administration

Enterprises receive not only a preferential tax rate but also have a long reduction duration, some enterprises receive this incentive for over 10 years.

On August 03, 3022, the Minister of Finance promulgates Circular No. 48/2022/TT-BTC prescribing the rates, collection, remittance, management, and use of charges for exploitation and use of information in the national population database.

On August 08, 2022, the Government issues the Decree No. 51/2022/ND-CP on preferential import duty rates applicable to petroleum products.

On July 29, 2022, the Ministry of Planning and Investment issues Circular No. 16/2022/TT-BKHDT on ceasing the effectiveness of Circular No. 08/2022/TT-BKHDT and Circular No. 10/2022/TT-BKHDT.

On July 27, 2022, the Minister of Finance issues the Circular No. 45/2022/TT-BTC on amending and supplementing a number of articles of the Minister of Finance’s Circular No. 143/2015/TT-BTC of September 11, 2015, providing customs procedures for and management of automobiles and mopeds of subjects permitted to import or temporarily import these automobiles and mopeds for non-commercial purposes.

Enterprise income tax is one of the direct taxes and is calculated based on the taxed incomes in the tax period and tax rates. This is one of the important revenues of the state budget.

To calculate exactly the payable enterprise income tax, it is necessary to define the total revenue from production and business activities, and other taxable incomes in accordance with law provisions.

On July 29, 2022, the Government issues Decree No. 49/2022/ND-CP on amending and supplementing a number of articles of Decree No. 209/2013/ND-CP detailing and guiding a number of articles of the Law on Value-Added Tax.

The procedure for cancellation of an e-invoice is made by the seller and tax agency to make e-invoice invalid. The procedure can be made in the software of e-invoice.

Tax invasion is an act that has great effects on state economic management, so all the individuals and organizations having tax invasion shall be dealt with in accordance with legal provisions. So, who is responsible for tax evasion in enterprises?