UPDATE NEW REGULATIONS
⦁ Decree No.126/2020/ND-CP detailing several articles of the Law on Tax Administration, issued October 9, 2020, takes effect from December 5, 2020..
⦁ Decree No.132/2020/ND-CP on tax administration for enterprises with associated transactions, issued on November 5, 2020, takes effect from December 20, 2020, and applies from the corporate income tax calculation 2020.
⦁ Decree No.125/2020/ND-CP regulating the sanctioning of administrative violations of tax and invoices, issued on October 19, 2020, takes effect from December 5, 2020.
⦁ Decree No.128/2020/ND-CP on sanctioning administrative violations in customs, issued on October 19, 2020, takes effect from December 10, 2020.
⦁ Decree No.135/2020/ND-CP regulating the retirement age of employees, issued on November 18, 2020, takes effect from January 1, 2021.
⦁ Resolution No. 128/2020/QH14 On the State budget estimate in 2021, issued on 12/11/2020.
⦁ Official Letter No. 4158/TCT-KK dated October 2, 2020, on the accounting of sub-item of payment of environmental protection tax (environmental protection) for petroleum products according to Circular No. 93/2019/TT-BTC dated December 31, 2019.
⦁ Official Letter 5189/TCT-CS summarizes Decree 126/2020/ND-CP’s remarkable points on tax administration.
⦁ Official Letter 5032/TCT-CS dated 26/11/2020 of the General Department of Taxation on the cost of isolation against Covid 19 epidemic prevention by foreign experts.
⦁ Official Letter 97748/CT-TTHT dated 10/11/2020 of Hanoi Tax Department on CIT and PIT for payments to employees during the Covid-19 epidemic.
NEWSLETTER 12 – 2020
Decree No.126/2020/ND-CP detailing several articles of the Law on Tax Administration, issued October 9, 2020, takes effect from December 5, 2020.
⦁ Banks must provide customer account details at the tax authorities’ request;
⦁ 05 cases are not required to file a tax return.
⦁ Additional guidance on coercive measures to enforce administrative decisions on tax administration.
⦁ It is not allowed to write off the debt of the land use levy, land rent, water surface rent, and money for protecting and developing
⦁ The cases other than resident individuals with income from salaries and wages are not required to file PIT finalization.
⦁ Detailed guidance on locations for filing a tax return for taxpayers who have many activities and businesses in many provinces
⦁ Specific provisions on tax declaration and payment on behalf of individuals receiving stock dividends
⦁ The CIT amount temporarily paid for three quarters is not lower than 75% of the whole year tax
⦁ For organizations cooperating with individuals, individuals do not directly declare tax
⦁ Specifying the regime of tax declaration and payment on behalf of individuals receiving stock dividends.
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