No. Official Dispatch Content Date of issuance
Financial Statements
1 Official Letter No. 7539/CTBGI-TTHT from Bac Giang Tax Department regarding the recognition of owner’s capital contribution in the audited financial statements of 2024 In cases where a company amends its Enterprise Registration Certificate to increase charter capital and updates its Investment Registration Certificate to reflect the increase in capital contribution and total investment, the recognition in the audited financial statements of 2024 must reflect the data as per the updated Enterprise Registration Certificate. October 30, 2024
Invoices
2 Official Letter No. 6338/TCT-CS from the General Department of Taxation regarding electronic invoices In cases where a business registered for VAT declaration and payment under the credit method is subject to enforcement by the tax authorities through suspension of invoice usage, the suspended invoices shall be handled in accordance with Point b, Clause 1, Article 34 of Decree No. 126/2020/ND-CP. (Invoices suspended under this enforcement measure do not include internal stock delivery notes with transport functionality.) December 27, 2024
3 Official Letter No. 6342/TCT-CS from the General Department of Taxation regarding tax policies 1. For amounts collected and paid on behalf of other entities related to the loyalty program that are not associated with the Company's sale of goods or provision of services, the Company shall comply with Point d, Clause 7, Article 5 of Circular No. 219/2013/TT-BTC. 2. For sellers providing goods or services, with or without accompanying point accumulation/redemption for customers, the following shall apply:
  • Regarding VAT: a.1) If customers purchase goods or services without using accumulated points for discounts, the seller must record the full taxable price as the total value of the goods or services provided (without deducting the value of redeemed points) on the VAT invoice. The customer's accumulated points shall be determined based on the total value of goods or services provided (including VAT) and can be included as optional content on the VAT invoice as per Clause 15, Article 10 of Decree No. 123/2020/ND-CP. a.2) If customers redeem accumulated points for goods or services:
    • For promotional programs compliant with commercial law, the taxable price is calculated as per Clause 22, Article 7 of Circular No. 219/2013/TT-BTC. (The value of redeemed points is treated as a trade discount for the customer.) The invoice must fully detail the value of goods or services provided, the value of redeemed points, the taxable price, and the corresponding VAT.
    • For non-promotional programs, no direct deduction is made on the selling price; the taxable value of goods or services remains the full value without deducting redeemed points.
  • Regarding Corporate Income Tax (CIT): Revenue for CIT purposes in all cases includes the total sales revenue or service fees, including subsidies, surcharges, or extra charges received by the seller, as per corporate income tax laws.
3. If the Company complies with legal regulations on promotional programs and sells points to organizations or individuals (regardless of whether the points have been redeemed for participation in the program), the Company must issue VAT invoices with a 10% VAT rate, as guided in Article 11 of Circular No. 219/2013/TT-BTC.
  • Companies are responsible for maintaining and tracking documentation related to loyalty programs and must present these upon request from the competent authorities during inspections or audits.
 30/12/2024
4 Official Letter No. 2921/CTCMA-TTHT from Ca Mau Tax Department on issuing invoices for gifts
  • If the Company uses goods purchased for business purposes and then utilizes part of them as gifts for employees during holidays or festivals, paid from post-CIT profits, the Company is entitled to declare and deduct VAT according to regulations. In this case, invoices must be issued, and VAT must be calculated and paid as if the goods were sold to customers.
  • If the Company uses post-CIT profits to purchase goods as gifts for customers or employees during holidays or festivals without serving production and business activities, the input VAT cannot be deducted, the expense cannot be included as a deductible expense for CIT purposes, and no invoice is required for such gifts.
 December 27, 2024
5 Official Letter No. 10958/CTQNA-TTHT from Quang Nam Tax Department on issuing invoices and amending tax declaration records If an electronic invoice that has already been issued contains errors and the Company has corrected it by issuing a replacement electronic invoice as per Point b, Clause 2, Article 19 of Decree No. 123/2020/ND-CP, and subsequent errors are identified in the replacement invoice, the Company must issue a new electronic invoice to replace the erroneous replacement invoice. The Company must amend its tax declaration records in accordance with Article 47 of the Tax Administration Law No. 38/2019/QH14 and Clauses 4 and 7, Article 7 of Decree No. 126/2020/ND-CP. If the amended declaration results in an increase or decrease in VAT carried forward to the next period, the corresponding adjustments must be reflected in the "Increase adjustment" or "Decrease adjustment" fields of the initial VAT declaration for the current tax period.
6 Official Letter No. 11043/CTQNA-TTHT from Quang Nam Tax Department on issuing invoices and corporate income tax expenses
  • For export processing enterprises (EPEs) not required to declare and pay VAT, the invoice issuance date for exported goods is the time of transfer of ownership or usage rights of the goods to the buyer, regardless of whether payment has been received.
  • For cases where an EPE purchases goods from domestic enterprises:
    • If the domestic enterprise does not perform customs procedures and issues invoices with a VAT rate of 8% or 10% to the EPE:
      • Goods and services subject to customs procedures as prescribed in Clause 50, Article 1 of Circular No. 39/2018/TT-BTC dated April 20, 2018, by the Ministry of Finance: If expenses lack sufficient invoices and documents as required by law under Article 4 of Circular No. 96/2015/TT-BTC, they are not deductible as reasonable expenses when calculating CIT.
      • Goods and services eligible for optional customs procedures or exempt from customs procedures as prescribed in Clause 50, Article 1 of Circular No. 39/2018/TT-BTC: If the expenses (including VAT) meet the conditions stipulated in Article 4 of Circular No. 96/2015/TT-BTC, they can be considered reasonable expenses when calculating CIT.
 December 27, 2024
Value-Added Tax
7 Decree No. 180/2024/ND-CP issued by the Government regulating VAT reduction policies under Resolution No. 174/2024/QH15 dated November 30, 2024, by the National Assembly 1. Reduction of VAT for goods and services currently subject to the 10% tax rate, excluding the following groups of goods and services:
  • Telecommunications, financial, banking, securities, insurance activities, real estate business, metals and products made of cast metals, mining products (excluding coal mining), coke, refined petroleum, and chemical products;
  • Goods and services subject to excise tax;
  • Information technology as prescribed by IT laws.
2. Details of VAT reduction:
  • Businesses applying the VAT credit method are subject to an 8% VAT rate for the goods and services mentioned above.
  • Businesses (including household businesses and individual businesses) calculating VAT using the percentage method on revenue are eligible for a 20% reduction in the percentage used to calculate VAT when issuing invoices for goods and services eligible for VAT reduction as specified above.
3. Handling cases with issued invoices:
  • If businesses have already issued invoices and declared VAT at the tax rate or percentage not reduced as per this Decree, sellers and buyers must handle the issued invoices in accordance with legal regulations on invoices and documents. Based on the corrected invoices, sellers adjust the output VAT, and buyers adjust the input VAT (if applicable).
 31/12/2024
8 Official Letter No. 6608/TCHQ-TXNK from the General Department of Customs on implementing Resolution No. 174/2024/QH15 On November 30, 2024, the National Assembly issued Resolution No. 174/2024/QH15, allowing the continuation of VAT reduction from January 1, 2025, to June 30, 2025. To implement the provisions related to customs, the General Department of Customs provides the following guidance: 1. VAT reduction policy: A 2% VAT rate reduction applies to the groups of goods and services specified in Point a, Subsection 1.1, Clause 1, Article 3 of Resolution No. 43/2022/QH15 of the National Assembly on fiscal and monetary policies supporting the Socio-Economic Recovery and Development Program, from January 1, 2025, to June 30, 2025. 2. Guidance for declarations on the VNACCS/VCIS system: Select code VB235 in the "Tax Rate/Other Rate and Levy Application Code" field on the electronic import declaration form starting at 00:00 on January 1, 2025, to declare the 8% VAT rate for goods eligible for VAT reduction under Resolution No. 174/2024/QH15. Code VB235 does not apply to goods exempt from VAT, subject to 0% or 5% VAT rates as prescribed by the VAT Law, or goods not eligible for VAT reduction under Resolution No. 174/2024/QH15. December 31, 2024
9 Official Letter No. 6143/CTCTH-TTHT from Can Tho Tax Department on VAT policy guidance In cases where a company exports goods and the importing company uses a debt offsetting payment method involving three parties, this payment method does not fall under the bank transfer payment methods stipulated in Article 16 of Circular No. 219/2013/TT-BTC by the Ministry of Finance. Therefore, the company does not qualify for VAT refunds in the case of exports. December 26, 2024

Financial Statements

October 30, 2024: Official Letter No. 7539/CTBGI-TTHT from Bac Giang Tax Department regarding the recognition of owner’s capital contribution in the audited financial statements of 2024

In cases where a company amends its Enterprise Registration Certificate to increase charter capital and updates its Investment Registration Certificate to reflect the increase in capital contribution and total investment, the recognition in the audited financial statements of 2024 must reflect the data as per the updated Enterprise Registration Certificate.

Invoices

December 27, 2024: Official Letter No. 6338/TCT-CS from the General Department of Taxation regarding electronic invoices

In cases where a business registered for VAT declaration and payment under the credit method is subject to enforcement by the tax authorities through suspension of invoice usage, the suspended invoices shall be handled in accordance with Point b, Clause 1, Article 34 of Decree No. 126/2020/ND-CP. (Invoices suspended under this enforcement measure do not include internal stock delivery notes with transport functionality.)

30/12/2024: Official Letter No. 6342/TCT-CS from the General Department of Taxation regarding tax policies

1. For amounts collected and paid on behalf of other entities related to the loyalty program that are not associated with the Company’s sale of goods or provision of services, the Company shall comply with Point d, Clause 7, Article 5 of Circular No. 219/2013/TT-BTC.

2. For sellers providing goods or services, with or without accompanying point accumulation/redemption for customers, the following shall apply:

  • Regarding VAT:
    a.1) If customers purchase goods or services without using accumulated points for discounts, the seller must record the full taxable price as the total value of the goods or services provided (without deducting the value of redeemed points) on the VAT invoice. The customer’s accumulated points shall be determined based on the total value of goods or services provided (including VAT) and can be included as optional content on the VAT invoice as per Clause 15, Article 10 of Decree No. 123/2020/ND-CP.
    a.2) If customers redeem accumulated points for goods or services:
    • For promotional programs compliant with commercial law, the taxable price is calculated as per Clause 22, Article 7 of Circular No. 219/2013/TT-BTC. (The value of redeemed points is treated as a trade discount for the customer.) The invoice must fully detail the value of goods or services provided, the value of redeemed points, the taxable price, and the corresponding VAT.
    • For non-promotional programs, no direct deduction is made on the selling price; the taxable value of goods or services remains the full value without deducting redeemed points.
  • Regarding Corporate Income Tax (CIT):
    Revenue for CIT purposes in all cases includes the total sales revenue or service fees, including subsidies, surcharges, or extra charges received by the seller, as per corporate income tax laws.

3. If the Company complies with legal regulations on promotional programs and sells points to organizations or individuals (regardless of whether the points have been redeemed for participation in the program), the Company must issue VAT invoices with a 10% VAT rate, as guided in Article 11 of Circular No. 219/2013/TT-BTC.

  • Companies are responsible for maintaining and tracking documentation related to loyalty programs and must present these upon request from the competent authorities during inspections or audits.

December 27, 2024: Official Letter No. 2921/CTCMA-TTHT from Ca Mau Tax Department on issuing invoices for gifts

  • If the Company uses goods purchased for business purposes and then utilizes part of them as gifts for employees during holidays or festivals, paid from post-CIT profits, the Company is entitled to declare and deduct VAT according to regulations. In this case, invoices must be issued, and VAT must be calculated and paid as if the goods were sold to customers.
  • If the Company uses post-CIT profits to purchase goods as gifts for customers or employees during holidays or festivals without serving production and business activities, the input VAT cannot be deducted, the expense cannot be included as a deductible expense for CIT purposes, and no invoice is required for such gifts.

Official Letter No. 10958/CTQNA-TTHT from Quang Nam Tax Department on issuing invoices and amending tax declaration record

If an electronic invoice that has already been issued contains errors and the Company has corrected it by issuing a replacement electronic invoice as per Point b, Clause 2, Article 19 of Decree No. 123/2020/ND-CP, and subsequent errors are identified in the replacement invoice, the Company must issue a new electronic invoice to replace the erroneous replacement invoice.
The Company must amend its tax declaration records in accordance with Article 47 of the Tax Administration Law No. 38/2019/QH14 and Clauses 4 and 7, Article 7 of Decree No. 126/2020/ND-CP.
If the amended declaration results in an increase or decrease in VAT carried forward to the next period, the corresponding adjustments must be reflected in the “Increase adjustment” or “Decrease adjustment” fields of the initial VAT declaration for the current tax period.

December 27, 2024: Official Letter No. 11043/CTQNA-TTHT from Quang Nam Tax Department on issuing invoices and corporate income tax expenses

  • For export processing enterprises (EPEs) not required to declare and pay VAT, the invoice issuance date for exported goods is the time of transfer of ownership or usage rights of the goods to the buyer, regardless of whether payment has been received.
  • For cases where an EPE purchases goods from domestic enterprises:
    • If the domestic enterprise does not perform customs procedures and issues invoices with a VAT rate of 8% or 10% to the EPE:
      • Goods and services subject to customs procedures as prescribed in Clause 50, Article 1 of Circular No. 39/2018/TT-BTC dated April 20, 2018, by the Ministry of Finance: If expenses lack sufficient invoices and documents as required by law under Article 4 of Circular No. 96/2015/TT-BTC, they are not deductible as reasonable expenses when calculating CIT.
      • Goods and services eligible for optional customs procedures or exempt from customs procedures as prescribed in Clause 50, Article 1 of Circular No. 39/2018/TT-BTC: If the expenses (including VAT) meet the conditions stipulated in Article 4 of Circular No. 96/2015/TT-BTC, they can be considered reasonable expenses when calculating CIT.

Value-Added Tax

31/12/2024: Decree No. 180/2024/ND-CP issued by the Government regulating VAT reduction policies under Resolution No. 174/2024/QH15 dated November 30, 2024, by the National Assembly

1. Reduction of VAT for goods and services currently subject to the 10% tax rate, excluding the following groups of goods and services:

  • Telecommunications, financial, banking, securities, insurance activities, real estate business, metals and products made of cast metals, mining products (excluding coal mining), coke, refined petroleum, and chemical products;
  • Goods and services subject to excise tax;
  • Information technology as prescribed by IT laws.

2. Details of VAT reduction:

  • Businesses applying the VAT credit method are subject to an 8% VAT rate for the goods and services mentioned above.
  • Businesses (including household businesses and individual businesses) calculating VAT using the percentage method on revenue are eligible for a 20% reduction in the percentage used to calculate VAT when issuing invoices for goods and services eligible for VAT reduction as specified above.

3. Handling cases with issued invoices:

  • If businesses have already issued invoices and declared VAT at the tax rate or percentage not reduced as per this Decree, sellers and buyers must handle the issued invoices in accordance with legal regulations on invoices and documents. Based on the corrected invoices, sellers adjust the output VAT, and buyers adjust the input VAT (if applicable).

December 31, 2024: Official Letter No. 6608/TCHQ-TXNK from the General Department of Customs on implementing Resolution No. 174/2024/QH15

On November 30, 2024, the National Assembly issued Resolution No. 174/2024/QH15, allowing the continuation of VAT reduction from January 1, 2025, to June 30, 2025. To implement the provisions related to customs, the General Department of Customs provides the following guidance:

1. VAT reduction policy:
A 2% VAT rate reduction applies to the groups of goods and services specified in Point a, Subsection 1.1, Clause 1, Article 3 of Resolution No. 43/2022/QH15 of the National Assembly on fiscal and monetary policies supporting the Socio-Economic Recovery and Development Program, from January 1, 2025, to June 30, 2025.

2. Guidance for declarations on the VNACCS/VCIS system:
Select code VB235 in the “Tax Rate/Other Rate and Levy Application Code” field on the electronic import declaration form starting at 00:00 on January 1, 2025, to declare the 8% VAT rate for goods eligible for VAT reduction under Resolution No. 174/2024/QH15.

Code VB235 does not apply to goods exempt from VAT, subject to 0% or 5% VAT rates as prescribed by the VAT Law, or goods not eligible for VAT reduction under Resolution No. 174/2024/QH15.

December 26, 2024: Official Letter No. 6143/CTCTH-TTHT from Can Tho Tax Department on VAT policy guidance

In cases where a company exports goods and the importing company uses a debt offsetting payment method involving three parties, this payment method does not fall under the bank transfer payment methods stipulated in Article 16 of Circular No. 219/2013/TT-BTC by the Ministry of Finance. Therefore, the company does not qualify for VAT refunds in the case of exports.