Global

Details

  • Service: Tax, International Corporate Tax, Global Indirect Tax, International Executive Services, Global Compliance Management Services
  • Type: Regulatory update
  • Date: 6/7/2012

Vietnam - Reimbursed employee telephone expenses; VAT for foreign currency and VAT filing by branches 

June 7:  Guidance issued in May 2012, by Vietnam’s General Department of Taxation, addresses the corporate income tax and individual (personal) income tax treatment of amounts paid as reimbursement of telephone expenses incurred by employees.

Other recent guidance concerns the value added tax (VAT) implications of invoices denominated in a foreign currency and VAT declarations filed by branches located in different provinces than the head office.


Also, guidance has been issued clarifying the wage base to be used for calculating compulsory social insurance contributions for labourers.


To read about these developments in a June 2012 report prepared by the KPMG member firm in Vietnam: Technical Update (June 2012) (PDF 462 KB)




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