Global

Details

  • Service: Tax, International Corporate Tax, Global Indirect Tax, Global Compliance Management Services
  • Type: Regulatory update
  • Date: 3/6/2013

Vietnam - Real estate-related tax guidance, VAT updates 

March 6: Vietnam’s tax authorities issued the following guidance:
  • A circular on implementing a tax extension and reducing land rental fees for eligible entities (effective 25 March 2013)
  • An official letter providing guidance for the real estate sector with respect to income relating to residential sales and office leases
  • An official letter concerning interest-free loans between a company and its foreign related party, and adjustments for the interest rate to reflect market values
  • An official letter concerning late declarations of value added tax (VAT) for construction and installment activities
  • An official letter as guidance when assets under a business cooperation contract (BCC) have been fully depreciated and the rules relating to VAT declarations
  • An official letter concerning VAT treatment when companies are in dissolution and transfer a project
  • An official letter on foreign contractor tax (FCT) liability of foreign courier companies

Read a February 2013 report [PDF 485 KB] prepared by the KPMG member firm in Vietnam: Technical Update (February 2013)




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