
In this issue:
Directive No. 11/CT-TT about solutions to support the business and labor impacted by COVID-19
- Extend the deadline for the payment of VAT, CIT and Land rental;
- Support: the labors of postponed labor contracts with VND1,800,000/month; the labors not yet eligible for unemployment insurance with VND1,000,000/month; qualified enterprises with loan at 0% rate to pay the salary;
- Suspend the payment of Social Insurance and Trade Union Fee until 30 June 2020;
Decision No. 345/QĐ-BTC approving the scheme for application of financial reporting standards in Vietnam
- Applying IFRS: optional from 2022-2015; required from 2025;
- Applying VFRS: required for all enterprises from 2025.
Decree No. 22/2020/NĐ-CP amending and supplementing cases of exemption from license fees
- Exempt 1st year’s license fees for establishment from 1 Jan 2020;
Exempt 3 years’ license fees for SME transformed from business households; - Exempt license fees for public education institution from kindergarten to high-school.
Directive of the Prime Minister on the amendment of Decree No. 20/2017/ND-CP (related to interest expenses for enterprises having associated transactions)
- The Prime Minister request Ministry of Finance to complete the draft regarding the amendment of retroactive progress on CIT collected in 2017 and 2018, by reducing CIT of the maximum 5 following years.
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