The Government’s Decree No. 12/2015/ND-CP dated February 12, 2015 detailing the implementation of a number of articles of Laws on tax and amending, supplementing a number of articles provided in Decrees on tax
Following Decree No. 91/2014/ND-CP, this Decree continues amending, supplementing some provisions on enterprise income tax (EIT), value added tax (VAT) and personal income tax (PIT), applicable from January 1, 2015 read more
These provisions are amended:
- Regarding taxable incomes arisen in Vietnam of foreign enterprises as specified in Clause 3 Article 3 of Decree No. 218/2013/ND-CP ;
- Regarding EIT incentives for the incomes from processing agricultural and aquatic products as specified in Article 1 of Decree No. 91/2014/ND-CP;
- To supplement the provision on EIT exemption towards bailiff offices during the pilot
- To amend the provision on accounting expenses for purchasing optional insurance for employees as specified in Point o Clause 2 Article 9 of Decree No. 218/2013/ND-CP ;
Regarding PIT upon the transfer of real estate, this Decree abolishes the way to calculate tax at the rate of 25% upon interests if original price is determined. The tax rate of 2% upon turnover of the real estate transfer shall be applied commonly instead
Relating to the activity of house leasing, this Decree supplements the provision on which lessee shall withhold and pay PIT at the rate of 5% on behalf of lessor in case an individual who has house for leasing receives turnover of VND 100 million/year or more and the lessee shall be responsible for paying the tax
This Decree takes effect from the date on which Law No. 71/2014/QH13 comes into force (January 1, 2015)
To annul the contents on exchange rate when determining turnover, expenses, assessable prices, assessable incomes, taxable liable incomes specified in Articles 7 and 8 of Decree No. 87/2010/ND-CP dated August 13, 2010; Clause 9 Article 4 of the Government's Decree No. 26/2009/ND-CP dated March 16, 2009 and Clause 3 Article 1 of the Government's Decree No. 113/2011/ND-CP dated December 08, 2011.
To annul Point n Clause 2 Article 3 and Point g Clause 2 Article 9 of the Government's Decree No. 218/2013/ND-CP dated December 26, 2013.
To annul Articles 7, 8, 9, 10, 19, 20, 21 and the provisions on incomes from business provided in Articles 12, 13 and 14 of the Government's Decree No. 65/2013/ND-CP dated June 27, 2013.
To annul Point c Clause 2 Article 6 of the Government's Decree No. 209/2013/ND-CP dated December 18, 2013.
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