Vietnam - Tax Policy On Capital Transfer Activities.

Legal News & Analysis - Asia Pacific - Vietnam - Tax

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.
     

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Minh Ngo Nhat, Managing Partner, BLawyers