Tax guidance and alert to the representative office of foreign companies in Vietnam

In this Newsletter, we would like to update you the following important changes:

Foreign Contractor Tax (FCT) imposed on income from trading activities via bonded warehouse
Corporate Income Tax (CIT) incentives for other income
Non-deductibility of salary expenses of foreign employees without labor contract and work permit
Registration fee upon re-registration of the ownership /using rights with the government authorities
Requirements on non-cash payment vouchers (payments via bank) in Value Added Tax creditability and refund
CIT treatment for income from capital transfer
Notice about the submission of the Annual operation Report for the Representative Offices of foreign companies in Vietnam.