Vietnam is implementing a series of important changes in terms of policies to alleviate post-COVID-19 difficulties as well as enhance the business environment, unfold social power to attract and take advantage of available opportunities when major markets in the world are gradually reopening and expanding their supply chains to minimize risks and disruptions.

In this month’s Tax Newsletter, Grant Thornton Vietnam would like to update several recently issued legal policies.

• Resolution No.116/2020/QH14 on reducing 30% of CIT payable in 2020.
• Law on Investment 2020 No. 61/2020/QH14.
• Law on Enterprise 2020 No. 59/2020/QH14.
• Circular No.13/2020/TT-BTTTT on the identification of software product production.
• Official Letter No. 2835/TCT-TTKT guiding several contents of Decree No. 68/2020/ND-CP on interest expenses of enterprises having related-party transactions.
• Official Letter No. 2014/TCT-DNNCN of General Department of Taxation responding to EUROCHAM on PIT for visa and temporary residence card application expense for employees.
• Official Letter No. 3552/CT-TTHT on PIT of income from gifts of employees.

Update on new regulations and important tax policies

Vietnam is implementing a series of important changes in terms of policies to alleviate post-COVID-19 difficulties as well as enhance the business environment, unfold social power to attract and take advantage of available opportunities when major markets in the world are gradually reopening and expanding their supply chains to minimize risks and disruptions.

In this month’s Tax Newsletter, Grant Thornton Vietnam would like to update several recently issued legal policies.

• Resolution No.116/2020/QH14 on reducing 30% of CIT payable in 2020.
• Law on Investment 2020 No. 61/2020/QH14.
• Law on Enterprise 2020 No. 59/2020/QH14.
• Circular No.13/2020/TT-BTTTT on the identification of software product production.
• Official Letter No. 2835/TCT-TTKT guiding several contents of Decree No. 68/2020/ND-CP on interest expenses of enterprises having related-party transactions.
• Official Letter No. 2014/TCT-DNNCN of General Department of Taxation responding to EUROCHAM on PIT for visa and temporary residence card application expense for employees.
• Official Letter No. 3552/CT-TTHT on PIT of income from gifts of employees.

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This report was provided by Grant Thornton Vietnam. For more information on Grant Thornton Vietnam, visit their website at: https://www.grantthornton.com.vn/vi/

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