Changes In Payment, Declaration And Filing Requirements For CIT And PIT

The Draft Decree will impact the practice of E-Commerce providers about being compliant with tax submissions. Provisional CIT obligations at the end of any calendar year will favourably impact companies with high revenue in the last quarter. Some changes related to PIT are introduced as well.

LEGAL UPDATE

In February 2022, the Ministry of Finance of Vietnam released a draft Decree on tax administration (Draft Decree) to solicit public comments. The Draft Decree amends some articles of Decree 126/2020 guiding the Law on Tax Administration and Decree 123/2020 on invoices.

In this legal update, we will discuss the noteworthy takeaways from the Draft Decree.

1. Provisional Corporate Income Tax Payment