Tax News Letter – May 2020

In this issue:

New
  • Self-Deduction amount for personal income tax RAISE UPTO VND 11M from 2020
  • LOWER contribution to Occupational Accidents and Diseases Insurance Fund
 Regarding Value-Added Tax (VAT)
  • Deductible amount of input VAT if not declared shall NOT be realized as deductible expenses.
  • If initial transaction from VND 20M was made in cash, even though money is collected then transferred later, input VAT amount will NOT be deducted.
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Bui Minh Cuong
Audit Director
+84 987 200 809‬
+84 24 6666 6860
Hoang Van Vung
Head of Ho Chi Minh Office
+84 90 435 8307‬
+84 282 262 8080‬