In order to concretize some provisions of the Law on Environmental Protection 2020 (LEP 2020) approved by the National Assembly on November 17, 2020, the Government is drafting a Draft Decree providing details for some articles of this law (Draft Decree). So far, the collection of comments from concerned experts and agencies to complete the contents of these regulations has finished.
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Guidance on tax declaration and payment for individuals having income from digital information content products and services
On June 1, 2021, the Ministry of Finance issued Circular 40/2021/TT-BTC guiding value added tax, personal income tax and tax administration of household businesses and individual businesses (Circular 40). Compared to Circular 92/2015/TT-BTC, Circular 40 has some changes in subject classification, tax calculation methods, determination of relevant organizations’ responsibilities, etc. Especially, Circular 40 has expanded the applicable subjects, typically individuals having income from digital information content products and services.
Read moreNew stipulations on implementation of the Law on Export and Import Duties
In order to satisfy the practical needs arising in corporates’ import and export activities, on March 11, 2021, the Government promulgated Decree 18/2021/ND-CP amending and supplementing some articles in Decree 134/2016/ND-CP providing in detail a number of articles and measures to implement the Law on Export and Import Duties.
Read moreThematic Report on Facilitation of Non-cash Payment to Support the Increase of DBI and Business Environment Improvement
In Viet Nam, the current legal and policy frameworks related to non-cash payment are still in the stage of experimenting and completing. The researches on good practices of some countries regarding non-cash payment applications in (i) Starting a business, (ii) Dealing with construction permits, (iii) Getting electricity, (iv) Registering property, (v) Paying taxes, and (vi) Enforcing contracts show that reforms on non-cash payment applications are often associated with reforms on electronification of administrative procedures in general.
Read moreNew points on personal income tax declaration and payment
The General Department of Taxation issued Tax Administration Law 2019 which came into effect on July 1, 2020 and Dispatch 377/TCT-DNNCN dated February 5, 2021 on promoting the grant of electronic transaction accounts at the tax authority for individuals, to facilitate taxpayers in personal income tax.
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