Official Dispatch No. 2389/TCT-CS dated June 1, 2016 concerning foreign contractor tax (FCT) related to sale of goods
Official Dispatch No. 2389/TCT-CS dated June 1, 2016 concerning foreign contractor tax (FCT) related to sale of goods
| Sign: | 2389/TCT-CS | Document type: | Official Dispatch |
| Promulgation place: | The General Department of Tax | Signer: | Nguyen Van Chi |
| Promulgation day: | 01/06/2016 | Effect day: | Known |
| Announcement day: | Updating | Announcement number: | Updating |
| Status: | Known |
| Sign: | 2389/TCT-CS |
| Document type: | Official Dispatch |
| Promulgation place: | The General Department of Tax |
| Signer: | Nguyen Van Chi |
| Promulgation day: | 01/06/2016 |
| Effect day: | Known |
| Announcement day: | Updating |
| Announcement number: | Updating |
| Status: | Known |
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MINISTRY OF
FINANCE |
SOCIAL REPUBLIC
OF VIETNAM |
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No. 2389/TCT-CS |
Hanoi, June 1, 2016 |
To: Tax Department of Ho Chi Minh City.
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Clause 1 and Clause 5 Article 1 of Circular No.103/2014/TT-BTC dated August 6, 2014 of the Ministry of Finance provide for regulated entities as follows:
“1. Foreign businesses with or without Vietnam-based permanent establishments; and resident or non-resident foreign businesspeople (below collectively referred to as foreign contractors and foreign subcontractors) doing business in Vietnam or earning incomes in Vietnam under contracts, agreements or commitments with Vietnamese organizations or individuals or between foreign contractors and foreign subcontractors to perform part of the main contract.
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5. Foreign organizations or individuals that exercise the right to export, import or distribute goods in Vietnam, purchase goods for export, or sell imported goods to Vietnamese traders in accordance with trading laws.
Clause 1 Article 7 of Circular No.103/2014/TT-BTC provides for incomes subject to Corporate Income Tax (CIT) as follows:
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Pursuant to Article 20 of the Circular No. 156/2013/TT-BTC dated November 6, 2013 of the Ministry of Finance guiding declaration of VAT and CIT payable by foreign contractors.
Pursuant to above regulations and Canon Group’s function-based business division model:
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- Regarding goods sale between Canon Sing and its clients in foreign countries where goods are delivered at a bonded warehouse in Vietnam leased by Canon Sing, then Canon Sing must pay CIT in Vietnam as per the law.
- Regarding goods sale between Canon Japan Inc. (manufacturer, outsourcing party) and Canon Sing (distributor), Canon Japan Inc. does not have to pay FCT in Vietnam as this is not a business activity of Canon Japan Inc. in Vietnam.
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PP. DIRECTOR
GENERAL
DIRECTOR OF POLICY DEPARTMENT
Nguyen Van Chi
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