Recently, the General Department of Taxation of Vietnam has issued the Official Dispatch No. 5189/TCT-CS on introduction of new points of the Decree No. 126/2020/NĐ-CP elaborating the Law on Tax Administration.
According to Section 4 of the Appendix issued together with the Official Dispatch No. 5189/TCT-CS of the General Department of Taxation of Vietnam, changes on tax registration according to Decree No. 126/2020/NĐ-CP are clearly stated, including:
- New point 1: Amend the regulation that in case of changes to information about the ID card or passport of a taxpayer that is an individual, the changes will be applied within 20 days (30 days for mountainous, bordering areas and islands) from the date written on the ID card or passport (Clause 2 Article 6).
Before: The Law on Tax Administration of Vietnam stipulates the time limit for submission of application for amendments to tax registration information is 10 working days from the date of change.
- New point 2: Amend the regulation that taxpayers shall complete relevant procedures with their supervisory tax authority before relocation of the headquarters to another province, in specific, they may offset the corporate income tax and post-tax profit that remain after making provisional fund contributions before the tax finalization dossier is submitted against the amount payable under the tax finalization dossier (Clause 2 Article 6).
- etc.
View more details at the Official Dispatch No. 5189/TCT-CS of the General Department of Taxation of Vietnam, issued on December 07, 2020.
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