Tax Update - August 2022

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August 2022

KPMG would like to share the very recent update on the tax legislation for your reference. Our update would cover the following matters:

  • Taxpayers not generating revenue in 2019 do not qualify for 30% CIT reduction in 2021
  • Output Value Added Tax included in the VAT invoice issued but uncollectable upon a donation / sponsorship in-kind is not deductible for CIT calculation purpose
  • Adjustment of the project timeline without changing the CIT incentive conditions shall not impact ┬áthe CIT incentive position of the taxpayers
  • Use of e-invoices for on-the-spot export and import of goods
  • Timing of e-invoice issuance for EPE
  • Amendment of regulations on issuing separate VAT invoices for goods and services eligible for VAT reduction as per Decree No. 15/2022/ND-CP
  • E-VAT invoice is not required for export customs clearance
  • Signs of tax violations in invoice management alerted by the tax authorities
  • Regarding the use of e-receipts and e-certificates of PIT withholding
  • PIT declaration for individuals entering business cooperation contract with enterprises
  • Increase of the region-based minimum wage from 01 July 2022
  • Review and invalidate the tax code of business locations whose tax liabilities and declaration were centralised at the head office

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