Vietnam: Recently released a new transfer pricing decree
Vietnam’s Government has recently released a Transfer Pricing (“TP”) Decree No. 20/2017/ND-CP on 24 February 2017, provided that tax administration applicable to enterprises having controlled transactions’ (Decree 20), which will take effect
See MorePanama, Vietnam DTA enters into force
On 14 February 2017, the Double Taxation Agreement (DTA) between Panama and Vietnam was entered into force for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income. The treaty generally applies from
See MoreVietnam: A new legal framework for the international sale of goods
Recently, Vietnam ratified the UN agreement on contracts for the international sale of goods (CISG), which took effect on 1 January 2017. With this ratification expanding and complementing Vietnam’s existing domestic legal framework for the sale
See MorePanama ratifies DTA with Vietnam
On 7 February 2017, Panama ratified the Double Taxation Agreement (DTA) with Vietnam for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on
See MoreVietnam: Tax authority promotes national online tax refund
Recently, the General Department of Taxation is speeding up the implementation of online tax refunds on a national scale, a part of the tax reform effort, to create favourable conditions for businesses. A pilot implementation of online tax refunds
See MorePanama approves DTA with Vietnam
On 23 January 2017, the National Assembly of Panama approved the double tax agreement (DTA) with Vietnam for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on
See MoreVietnam approves protocol to a treaty between India and Vietnam
On 17 January 2017, through a press release published by the Vietnamese government, Vietnam has approved the amending protocol to a treaty between India and Vietnam. The treaty (India-Vietnam) was signed on 3 September 2016 for the avoidance of
See MoreMalta, Vietnam income tax treaty enters into force
On 25 November 2016, the income tax treaty between Malta and Vietnam was entered into force. This treaty will apply from 1 January
See MoreVietnam: Publishes a guidance on corporate income tax, VAT and customs
Vietnam’s tax authorities on 25 October 2016 circulated certain corporate income tax; value added tax (VAT), labour compliance, and customs duty matters. Corporate income tax -An official letter provides the conditions and supporting document to
See MoreVietnam: Publishes the draft decree on transfer pricing
The final draft transfer pricing (TP) decree was released on 3 October 2016 by the Ministry of Finance, following Resolution No. 19-2016/NQ-CP dated 28 April 2016. The decree aims to replace the existing TP regulations, Circular 66/2010/TT-BTC, and
See MoreVietnam: Publishes Circular on tax incentives
The Ministry of Finance (MoF) on 17 June 2016, issued Circular No. 83/2016/TT-BTC which provided guidance on the implementation of investment tax incentives with regard to corporate income tax, import tax and non-agricultural land use tax. The key
See MoreVietnam increases penalty for tax fraud and evasion
The General Department of Taxation announced on 6 June 2016, an increase in the maximum penalty that may be imposed for tax fraud and evasion to VND 50 million. Further it announced an increase in the fines for lost or damaged tax invoices
See MoreVietnam: Corporate tax incentives for regular investment activities
The Ministry of Finance on 7 April 2016, published Official Letter No. 4769/BTC-TCT which providing criteria on tax incentives for regular investment activities. As per this guidance, “regular investment activities” is defined as regular
See MoreThe Trans-Pacific Partnership negotiation completed
On October 4, 2015, Ministers of the 12 Trans-Pacific Partnership (TPP) countries – Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, United States, and Vietnam – announced conclusion of their
See MoreVietnam: Publishes Guidance on Tax Administration
Circular 110/2015/TT-BTC was issued on 28 July 2015 and provides guidance on tax administration and compliance by electronic means. The Circular replaces earlier Circulars 35/2013/TT-BTC and 180/2010/TT-BTC, and includes guidance on tax
See MoreDTA between Kazakhstan and Vietnam ratified by Kazakhstan
The Income and Capital tax Treaty between Kazakhstan and Vietnam was ratified by the President of Kazakhstan on 15th April
See MoreProtocol to treaty between Belgium and Vietnam approved by Belgium
The Belgian Council of Ministers approved the amending protocol to the Belgium-Vietnam double tax agreement on 3 April 2015. The amending protocol was signed on 12 March
See MoreDTA between Kazakhstan and Vietnam approved by Senate of Kazakhstan
The Double Tax Agreement (DTA) between Kazakhstan and Vietnam has approved through a law adopting by Kazakhstan's Senate (upper chamber of parliament) on 2nd April
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