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UHY – Taxflash issue no. 05/2023

This taxflash provides the following updates:

♦ Extention of payment deadlines for taxes and land rental in 2023

  • Scope of applicable
  • Extended payment deadlines
  • Procedures for extension

♦ CIT incentives by area for additional business lines 

Enterprises operating and enjoying CIT incentives (due to satisfying the conditions for geographical area) may not be entitled to CIT incentives for the additional income from additional business line if conditions are not met.  

♦ The value of raw materials and goods exceeding the limit is not tax deductible

♦ Governmental Resolutiton No 67/NQ-CP proposes to the National Assembly to consider VAT reduction its May 2023 session                                                          

On May 2, 2023, the Government issued Resolution 67/NQ-CP on the proposal to the National Assembly for a resolution regarding VAT reduction under shortened and simplified order and procedures for approval in its May 2023 session.

♦ VAT invoices in cases of trade discount, return of goods, support

♦ VAT paid abroad

♦ VAT paid abroad under foreign laws may be claimed as CIT deduction.  

♦ PIT withholding for bonus payments

♦ PIT declration and allocation to provinces with branches & business locations

♦ Foreign contractor tax on the purchase of account packages based on foreign technology platforms

♦ Proposed amendments to the law on social insurance

To download the Taxflash, please click here

If you would like further information, please feel free to contact us.

Mr. Thanh Nguyen – Partner

Mrs. Thao Pham – Partner

Mrs. Tran Thi Bo – Director

Mrs. Phung Thi Oanh – Director


Hanoi Head Office
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Tel: +84 245 678 3999
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Ho Chi Minh City Office
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Tel: +84 283 820 4899
Fax: +84 283 820 4909

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