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According to information from Tiktok’s agents, the need to hire their services to avoid and evade taxes related to online advertising activities on the TikTok platform has increased sharply recently. This alarming situation has been going on for a long time, potentially causing the state budget to lose millions to billions of VND. According to…
27
May
May
Recently, the Vietnamese Government has submitted to the National Assembly to reduce the value-added tax of 2%, except for telecommunications, real estate, securities, insurance, and banking products. The report submitted to the National Assembly by the Government of Vietnam on May 24, 2023 stated that the reduction of 2% value-added tax will be implemented in…
21
Apr
Apr
Recently, the Government of Vietnam has agreed the proposal to reduce VAT in Vietnam from 10% to 8% for the rest of 2023. It is expected that the Ministry of Finance will submit a formal proposal to the National Assembly to issue an official Resolution for VAT reduction implemented according to simplified procedures. On April…
26
Apr
Apr
The Government of Vietnam has extended the deadline for payment of value-added tax, corporate income tax, personal income tax, and land rent in 2023 for 4 subjects pursuant to Decree 12/2023/ND-CP dated April 14, 2023. Specifically, the 4 subjects eligible for tax payment deadline extension include: Enterprises, organizations, households, business households, and individuals engaged in…
21
May
May
In the first half of 2023, the Ministry of Finance of Vietnam has consulted the people and those affected by the special consumption tax in the Draft Law on Special Consumption Tax (amended). As part of the Tax System Reform Strategy 2021-2030, the Draft Law on Special Consumption Tax of Vietnam includes four major policy…
22
Feb
Feb
E-commerce platforms such as Shopee, Lazada, Sendo, Tiki, etc. have long been popular in Vietnam, becoming an e-commerce platform connecting sellers and buyers. However, individuals and organizations earning high profits on these platforms have not paid taxes in full according to regulations, which is suspected to constitute acts of tax evasion. In the following article,…
11
Jan
Jan
Tax evasion in Vietnam is one of the serious violations of the law. Individuals and organizations that commit acts of tax evasion will be punished according to Vietnam Tax laws and related documents. According to the provisions of Article 17 of Decree 125/2020/ND-CP sanctioning administrative violations of invoice tax (“Decree 125”), the act of tax…
10
Jan
Jan
The wrong declaration of taxes in Vietnam has many serious consequences for society, whether unintentionally or intentionally. This behavior is a violation of the law and will be sanctioned according to the provisions of Vietnam’s tax law and relevant documents. However, in case the person declares false tax unintentionally and has taken measures to remedy…
15
Jan
Jan
In order to restore and rapidly develop production and business activities, promote growth, prioritize a number of important industries and fields, and strive to achieve the goals of the 2021-2025 period, the National Assembly of Vietnam passed Resolution 43/2022/QH15 on fiscal and monetary policies to support the program of socio-economic recovery and development on January…
15
Nov
Nov
The Petroleum Law (amended) was ratified by the National Assembly of Vietnam on November 14 by 472/475 votes in favor, with a number of new policies being considered with groundbreaking significance. The Petroleum Law including 11 chapters and 69 articles will take effect from July 1, 2023. The amended Petroleum Law now includes regulation on the…
