Updating on Tax, Investment and Labor Regulations

Grant Thornton Vietnam would like to update you on tax, investment and labor matters as follows:

Tax matters: 

• Extension of deadline for submitting Form 06/GTGT on the registration of voluntary application of VAT deduction method
• Request on the submission of audited Financial Statements upon the submission of 2015 CIT Finalization return
• Business license tax in 2016
• Fees and tuition fees for Vietnamese employees’ children
• Notice on submission of the Annual Operation Report of the Representative Offices of foreign traders in Vietnam
• Replacement of Chief Accountant and appointment of Chief Accountant being a foreigner
• Replacement of Identification Card (ID), Citizenship Card
• Invoice issuance for loan interest
• Personal Income Tax (PIT) finalization in 2015
• Draft Decision of the Prime Minister (PM) on denying and holding back the repatriation of individuals who have not fulfilled tax obligations

Investment matters:

• Decree 118/2015/NĐ-CP regulating details and guiding the implementation of some Articles of the Law on Investment
• Schedule of the removal of restrictions on market entry for foreign service providers on  logistics services
• Importing used machines, equipment and production lines

Labor matters :

• Regulations on working hours and time break of employees in the manufacturing /processing industry working on a seasonal/ordering basis
• Notice of calculation basis on overtime payment for employees during the Lunar New Year 2016

We hope you will find these updates helpful and please do not hesitate to contact us on any queries you might have on these updates as well as our services. We will be happy to help.