Uni 31-10-2014 - Guidance on new contents of Circular 151/2014/TT-BTC

According to official letter No. 4716/TCT-CS (effective from 15 Nov 2014).

New contents relating to CIT, VAT and PIT and tax administration should be notes as follows:

• Whole value of sample and trial-drive automobiles used for business having value of more 1,6 billion VND is allowed to depreciate and recognize in deductible expense when determining CIT.
• Adding guidance on VAT deduction for deferred payment, installment with value of more 20 million VND.
• Taxpayers temporarily stop business, they only report tax authority (business registration office or tax authority) instead of reporting 2 offices before this time.
• Taxpayers pay VAT with sale of goods and services of the previous year from or less 50 billion VND ( before this time is 20 billion VND), they will declare quarterly