Our Vietnam Legal Update #203 would lead you on 03 legal issues:
I. The Corporate Income Tax (“CIT”) policy upon relocation of business head office
Hanoi Tax Department issued the Official Letter No. 12659/CTHN-TTHT stipulating the CIT policy when relocating the business head office with the following contents:
- Applying the tax rate of 10% for a period of 15 years to the income of an enterprise from the execution of new investment projects in the extremely disadvantaged socio-economic areas, economic zones, or hi-tech zones.
- In accordance with the law, if an enterprise fails to satisfy any of the conditions for enjoying tax incentives, it is not entitled to tax incentives in that tax year and shall pay CIT at the common rate and that year shall be counted in its incentive enjoyment period.
- Therefore, in case an enterprise is entitled to CIT incentives under the conditions of a new investment project in the extremely difficult disadvantaged socio-economic areas. In the tax year, if the enterprise moves the location of its head office to carry out the project to a place that is not located in an area with extremely difficult socio-economic conditions, that year the enterprise is not entitled to these CIT incentives.
II. Guidance on canceling invoices
The Tax department of Tuyen Quang Province issued Official Letter No. 340/CTTQU-THTT dated 01 April 2022 to give guidance on canceling invoices. Some notable contents are as follows:
- From the time of being accepted by the tax authority to register for the use of e-invoices according to the provisions of Decree No. 123/2020/ND-CP, enterprises and organizations must stop using the approved e-invoices. issue notice according to the previous regulations and understand the paper invoice that has been announced to be issued but not yet used.
- Dossier of invoice cancellation includes:
- Decision to set up invoice cancellation council;
- Invoice inventory to be canceled;
- Cancellation invoice records;
- Notice of invoice cancellation results; and
- Invoice cancellation records are kept at the enterprise or organization.
III. Summary of articles published in April 2022
Below are the articles that were published on the BLawyers Vietnam’s website this month. Please click on the links below to see more.
- 04 notes for the divorce involving foreign elements: BLawyers Vietnam raises some notes about the divorce involving foreign elements.
- 05 must-have welfares for female employees at the workplace: Currently, female employees account for a large proportion of enterprises. Unlike male employees in terms of health, female employees require special attention from enterprises and ensure several conditions in the workplace. Vietnamese laws now have stipulated several regulations requiring enterprises to improve welfare and working conditions for female employees. BLawyers Vietnam introduces the benefits for female employees that enterprises should pay attention to.
- 06 notes about construction operating license of foreign contractors in Vietnam: Law on Bidding, Law on Construction, Law on Investment, and relevant legal documents allow foreign contractors to bid and implement construction projects in Vietnam. BLawyers Vietnam presents notable things about the construction operating license of foreign contractors in Vietnam.
- Exclusive agency agreement and 5 issues could lead to a dispute: BLawyers Vietnam would like to present the issues that may be disputed in the Exclusive agency agreement in Vietnam.
- 05 notes for a Vietnam-based enterprise guaranteeing a loan for a foreign enterprise: Currently, Vietnamese laws allow a Vietnam-based enterprise to guarantee aboard if meeting some conditions. BLawyers Vietnam would raise some notes for Vietnam-based enterprise’ guarantee for a loan of a foreign enterprise.
- How to complain about the issuance of intellectual property protection titles? What should an enterprise do if it detects that the issuance of intellectual property protection titles by the competent authorities infringes its legitimate rights and interests? Is it possible to make a complaint about the issuance of this protection title, and if so, what is the procedure for this complaint? BLawyers Vietnam would like to provide you with the necessary information on this issue.
- 03 notes on late payment interest under Vietnamese law and judicial precedents: Through this article, BLawyers Vietnam will note some issues regarding late payment interest according to the prevailing law and judicial precedents.
Maybe you are interested in reading other Legal Update of BLawyers Vietnam: April 2022 (Part 1) | March 2022 (Part 2) | March 2022 (Part 1) | February 2022 (Part 2) | February 2022 (Part 1) | January 2022 (Part 3) | January 2022 (Part 2) | January 2022 (Part 1) | December 2021 (Part 5) | December 2021 (Part 4) | December 2021 (Part 3) | December 2021 (Part 2)