On January 28, 2022, the Government of Vietnam issued Decree No. 5/2022/ND-CP on tax exemption and reduction. However, the enterprises which produce and use iron and steel materials, should note the following issues.
According to Official Letter No. 902/TCT-CS, the General Department of Taxation has determined that scrap iron is not eligible for VAT reduction from 10% to 8% for the fiscal year 2022.
Please kindly refer to the attached document. In case you have a need for detailed things, please contact us for your necessary professional advice.
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Dong Du International Accounting, Taxes & Legal Consulting Group Vietnam, A member of OneSMP Singapore, Southeast Asia Business Consulting Network, we specialize in accounting services, corporate tax advice, legal advice, business training, human resource consulting, product & market surveys…over 15 years up to now in the Vietnam market. Currently, we have also built a team of foreign experts from Japan, Singapore, Thailand, Cambodia … to help customers inside and outside Vietnam to expand appropriate business opportunities as well as possible.
[SETTING UP COMPANY, ACCOUNTING, TAX, LAW COMPLIANCE, HR…IN HO CHI MINH, VIET NAM FOR FOREIGN INVESTORS]
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