Vietnam is drastically implementing to issue and re-enforcing the policies, including tax reduction, tax extension policies, to support the business community overcoming difficulties as well as enhance the domestic business environment to promote investment attraction.

In this month Tax Newsletter, Grant Thornton Vietnam would like to update important policies which are recently issued.

• Resolution No.124/NQ-CP issued by Government on Government’s action plan on implementation of national industries development plan

• Decree 114/2020/ND-CP regulating the implementation of the Resolution No. 116/2020/QH14 of the National Assembly on 30% reduction of CIT payable of the year 2020

• Decree No.109/2020/ND-CP on Extension Special Consumption Tax payment duration for domestically manufactured automobiles

• VAT for processing service provided by EPEs to domestic enterprises

• Some Office Letters on Guidance on new standard for dependent registration and family deduction.

Vietnam Tax Update – October 2020

Vietnam is drastically implementing to issue and re-enforcing the policies, including tax reduction, tax extension policies, to support the business community overcoming difficulties as well as enhance the domestic business environment to promote investment attraction.

In this month Tax Newsletter, Grant Thornton Vietnam would like to update important policies which are recently issued.

• Resolution No.124/NQ-CP issued by Government on Government’s action plan on implementation of national industries development plan

• Decree 114/2020/ND-CP regulating the implementation of the Resolution No. 116/2020/QH14 of the National Assembly on 30% reduction of CIT payable of the year 2020

• Decree No.109/2020/ND-CP on Extension Special Consumption Tax payment duration for domestically manufactured automobiles

• VAT for processing service provided by EPEs to domestic enterprises

• Some Office Letters on Guidance on new standard for dependent registration and family deduction.

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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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