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 of Vietnam.
Article table of contents
The Official Dispatch No. 5189/TCT-CS of the General Department of Taxation of Vietnam has specified 17 new points and compared specifically with the expired regulations, these 17 new points include:
1. Scope;
2. Tax administration during taxpayer’s business suspension;
3. Management of other amounts payable to state budget;
4. Taxpayer registration;
5. Tax declaration, tax calculation;
6. Tax liability imposition;
7. Deadlines for payment of land-related amounts, fees for grant of right to extraction of water resources and minerals, fees for grant of sea area usage;
8. Deferral of fee for grant of right to mineral extraction in case of land clearance difficulties;
9. Fulfillment of tax obligations upon exit from Vietnam;
10. Debt freezing procedures;
11. Cooperation between tax authorities, business registration authorities and local governments in canceling debts, collecting canceled debts before issuance of the certificate of business registration;
12. Enforcement of payment of tax debt;
13. Publishing of information;
14. Responsibilities of relevant entities to provide information about taxpayers;
15. Duties and entitlements of commercial banks and payment service providers (PSPs);
16. Purchase of information, documents and data serving tax administration;
17. Advance pricing agreement to enterprises having related-party transactions.
View details of each new point at the Official Dispatch No. 5189/TCT-CS of the General Department of Taxation of Vietnam, issued on December 07, 2020.
Le Hai
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- Official Dispatch No. 5189/TCT-CS
