Special News 2019

In this issue:

Administration Solutions and Tax Consultancy LLC (“ASTC”) is pleased to deliver you a special edition, summarizing the accounting works needed to be prepared by the end of FY2019.

Tax Finalization FY2019

• Register PIT codes for employees working in 2019 by March 20, 2020 at least;
• Collect documents to re-calculate PIT of employees (resident or non-resident foreigners, employees signing labor contracts for less than 3 months,…);
• Temporarily pay 80% of incurred CIT in 2019 by January 30, 2020 at least. Check whether your enterprise engage in transfer-pricing transactions or not so as to prepare required documents requested by competent authorities.

Tax Registration FY2020

• Enterprises determine VAT declaration period as quarterly or monthly for the next 3 years (2020, 2021, 2022) by January 20, 2020 at least;
• Enterprises redefine and pay the annual license fee for FY2020 by January 30, 2020 at least.