29 July 2021
Tax Department of Binh Duong Province issued Official Letter No. 11236/CTBDU-THTT dated 7 July 2021 to guide on the tax policies related to investment projects and activities. The contents are as follow:
-
If having a capital transfer, the enterprise which performs the transfer will not be subjected to VAT but must pay CIT in accordance with the law.
-
Organizations and individuals receiving capital transfers are responsible for determining, declaring, withholding, and paying CIT on behalf of foreign organizations in accordance with the law.
For further information, please contact:
Minh Ngo Nhat, Managing Partner, BLawyers
minh.ngo@blawyersvn.com
