On the 15th of August 2018, Hanoi Tax Department issued official letter no. 57077/CT-TTHT as guidance on profit repatriation.
If the company has fully discharged its tax obligations to Vietnam Government, submitted audited financial reports, and annual tax return to relevant tax department; it can carry out profit repatriation procedures as follows:
On 17th of July, 2018, General Department of Taxation issued official letter no. 2796/TCT-DNL as guidance on usage of electronic vouchers for the purpose of tax declaration. The company uses and stores electronic vouchers (electronic invoices) issued by foreign suppliers, and those vouchers are managed via its electronic purchasing system. However, without seller’s digital signature, such vouchers are not valid for tax declaration and payment.
On the 28th of November 2017, General Department of Taxation issued official letter no. 5475/TCT-CS as guidance for expense recognition of deductible VAT on purchase. In case input VAT of a tax period qualifies for VAT declaration, it can be declared and offset against VAT payable in that period. In case deductible VAT is recognized as expense, there’s no regulations that it can be treated as deductible expense for CIT purpose.