Grant Thornton summarises key changes in tax regulations during the first Quarter of 2014.

Value added tax

Circular 219/2013/TT-BTC (“Circular 219”) was issued on 31 December 2013 by the Ministry of Finance (“MoF”) and announced in the official gazette on 01 March 2014, providing guidance for the implementation of Decree 209/2013/ND-CP on Value Added Tax (“VAT”). Circular 219 took effect from 01 January 2014 and replaced Circular 06/2012/TT-BTC and Circular 65/2013/TT-BTC of MoF.

Other Tax updates

1. Guidelines relating to invoicing
2. Expats working in Vietnam