LABOR
Adjusting the interest rate for calculating interest on late payment and retrospective payment of health insurance.
(Notice No. 25 / TB-BHXH dated January 6, 2021)
The Ho Chi Minh City Social Insurance Agency announced that the interest rate for calculating late payment interest and health insurance arrears, applicable from January 1, 2021, is 0.2083/month.
On foreign workers working in Vietnam and recruitment and management of Vietnamese workers working for foreign employers in Vietnam
(Decree No. 152/2020/ND-CP dated 30 December 2020), Effective 15 February 2021.
“- Prior to July 5 and January 5 of the following year, the employer of foreign workers shall send a first-half-year report and an annual report on employment of foreign workers, using Form No. 07/PLI Appendix I hereto appended. The reporting period of the first 6 months is from December 15 of the previous reporting year to June 14 of the reporting year, the reporting period of the annual report is from December 15 of the previous reporting year to December 14 of the reporting year.
– Before December 15 or on an ad-hoc basis, the foreign employer shall send an annual report on recruitment and employment of Vietnamese workers, using Form No. 02/PLII Appendix II hereto appended. The reporting period is from December 15 of the previous year to December 12 of the reporting year and the report shall be sent as follows:
+ The foreign employers provided for in points a, b, c and d clause 3 Article 2 hereof shall send reports to recruitment and management organizations as provided in point a clause 1 Article 22 hereof;
+ The foreign employers provided for in points dd clause 3 Article 2 hereof shall send reports to recruitment and management organizations as provided in point b clause 1 Article 22 hereof.”
VAT
Transfer of assets when separating enterprises
(Official Letter No. 181/CT-TTHT dated 07/01/2021 of Binh Duong tax department)
“- In case of asset transfer, if it is a fixed asset (fixed asset) which has been depreciated, transferred between the Parent Company and its subsidiary and branch or between subsidiaries and branches, if the fixed asset remains keeping correct value on accounting books will be exempt from invoice. If a fixed asset is re-evaluated in value before being transferred, an invoice must be made and VAT declared and paid.
– In case a fixed asset is transferred between dependent branches in the same enterprise, including the transfer due to division, separation, consolidation, merger or conversion of an enterprise, it is exempt from invoice, only the transfer is required. property attached to a set of documents of origin of property.
– In case fixed assets are transferred between independent accounting units or between member units with full legal status, they are required to issue invoices and declare and pay VAT.”
TAX DECLARATION
Declaring VAT and PIT
(Official Letter No. 12643/CT-TTHT dated 15/12/2020 of Dong Nai tax department)
“- By the end of 2020, the company ends the VAT declaration cycle in accordance with the law on VAT declaration. From January 1, 2021, the company applies a new VAT declaration cycle that is stable for 3 years (in 2021, 2022, and 2023), the company shall base itself on the sales of goods and services of the calendar year. (full 12 months) to make VAT monthly or quarterly.
– In case from the first month in 2021, the company determines that the company is required to declare VAT quarterly, in 2021 the company is subject to quarterly PIT declaration, regardless of whether in 2021 the company actually incurred a deduction. PIT is over 50 million dong or less than 50 million dong.
– If from the first month in 2021, the company determines that the company is eligible to declare VAT monthly, the year is 2021:
+ The company pays income with withholding tax amount in the first month of at least one type of PIT return of VND 50 million or more, declares monthly tax.
+ The company pays the income with the withholding tax amount in the first month of at least one type of PIT return of less than VND 50 million quarterly.”
