Vietnam’s Ministry of Finance has announced that certain automobiles, depending on their engine displacement values, will receive a special consumption tax (SCT) rebate beginning July 1, 2016. However, other cars will see a higher tax compared to their current levels.
In part three of this three-part series, Vietnam Briefing discusses the impact of differences between IFRS and VAS on companies’ income statements.
In part two of this three-part series, Vietnam Briefing introduces the impact of the differences between IFRS and VAS on the presentation of balance sheets.
Key differences between IFRS and VAS include terminology, applied methods or presentation scope. In this article, we cover some of the critical differences between the two financial reporting systems.
To simplify the tax payment process, the Ministry of Finance has issued Circular No. 110/2015/TT-BTC to guide the implementation of electronic transaction in tax administration.
Ministry of Finance guidelines on personal income tax (PIT) in Circular No. 92/2015/TT-BTC came into effect on 30 July, 2015, applying to the 2015 tax period.
Last month, Vietnam released Circular 96/2015/TT-BTC, the new Circular lays out the updated regulations relating to the country’s corporate income tax (CIT). The revised rules will become effective on August 6th and will be applied to the 2015 tax year of assessment and the subsequent years following.
Circular No. 200/2014/TT-BTC provides guidelines on accounting policies for both local and foreign enterprises in Vietnam for the fiscal year beginning January 1, 2015.
Maria Kotova, Senior Associate at Dezan Shira & Associates, reviews the Eurasian Economic Union-Vietnam Free Trade Agreement and how it may affect your business.
Vietnam’s Ministry of Finance (MoF) has announced that it is currently seeking approval to raise taxes on the country’s key natural resources. The tax raises are intended to act as a tool to increase government revenues and tighten the management of resource mining.