In this Issue
Official Letter No. 4403/BTC-CST dated 6 April 2015 (OL 4403) on Value Added Tax (VAT) corresponding damaged goods which are compensated by insurer
Input VAT corresponding to damaged goods which is compensated shall be fully creditable provided that the insured issue VAT invoice and make declaration for such compensated VAT amount, as guided in the OL 4403.
Official Letter No. 1595/TCT-DNL dated 24 April 2015 (OL 1595) on Corporate Income Tax (CIT) to income generating from indirect transfer by non-resident shareholder
Pursuant to OL 1595, indirect equity transfer transaction between non-resident shareholder and Vietnamese entity is classified as direct transfer transaction and subject to Vietnamese tax.
Official Letter No. 1693/TCT-TNCN dated 5 May 2015 (OL 1693) and Official Letter No. 3049/CT-TTHT dated 9 April 2015 (OL 3049) on 2014 Personal Income Tax (PIT) finalization.
OL 1693 and OL 3049 clarify that since 1 January 2914, PIT obligation shall only be calculated from the first date of arrival to Vietnam for the expatriate employee who is a Vietnamese tax resident and is a citizen of countries signing Double Tax Agreement (DTA) with Vietnam.
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