News
Roadmap to apply the Vietnamese Financial Reporting Standards (VFRS) in alignment with IFRS

 

31/7/2020

On 16 March 2020, the Ministry of Finance issued Decision No. 345/QĐ-BTC approving a scheme to apply financial reporting standards in Vietnam. For detailed objectives and roadmaps, please click here.

 

 
Revision to threshold on deductible interest expense

13/07/2020

On 24 June 2020, the Government had issued Decree 68/2020/NĐ-CP (“Decree 68”) revising, amending Clause 3, Article 8 of Decree 20/2017/NĐ-CP (“Decree 20”) on tax administration applicable for enterprise having related party transactions. Decree 68 is effective from the signing date and applied from the tax year 2019. Below is a summary of the significant changes compared with Decree 20:

 
Increase tax reduction threshold to VND 11 million

In accordance with Resolution No. 954/2020/UBTVQH14 dated 2 June 2020, individual taxpayer shall be enjoyed a reduction from her monthly taxable income:

 
Application dossier for unemployment benefits
During the period when the COVID-19 epidemic casts a shadow over the economics in all industries in Vietnam, many workers suffered unemployment when factories endured lack of supply, cutting contracts by customers .... 
 
Decree 28/2020 on penalty for admin violations in labour areas
The Decree No. 28/2020/ND-CP dated 1 March 2020 of the Government regulates penalties for administrative violations in the fields of labor, social insurance, and overseas manpower supply under contract. 
 
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