Laws in Vietnam

According to the predetermined schedule, you are required to submit documents on 2017 personal income tax (PIT) finalization by March 31, 2018. Therefore, in order to meet the deadline, you need to make all necessary preparations from now on. Before carrying out PIT finalization, you should manage to review relevant legislative documents.  As of the current date (November 11, 2017), the following legislative documents deals with PIT finalization:    - 2006 Law on Tax Administration ;  - 2012 Law on Tax Administration ;  - 2007 Law on Personal Income Tax ;   - 2012 Amended Law on Personal Income Tax ;   - 2014 Law on Amendments to Laws on Tax ;  - 2017 Consolidated Document No. 14/VBHN-BTC that consolidates the Circular providing guidance on the Law on Tax Administration, the Amended Law on Tax Administration and the Decree No. 83/2013/ND-CP. - 2016 Consolidated Document No. 05/VBHN-BTC that provides guidance on implementation of the Law on Personal Income Tax, the Amended Law

At the meeting held on August 08, 2017, the Deputy Prime Minister Vuong Dinh Hue, in the response to the report of the Minister of Finance and opinions of attendees, concluded that five tax laws namely Law on value added tax, Law on exercise tax, Law on personal income tax, Law on corporate tax and Law on resource royalty will be amended. To be specific: 1. Law on value added tax - Value added tax (VAT) on agricultural products will be exempted when they are sold on the market. -  Fertilizers, special-purpose machinery and equipment for agricultural production and offshore fishing boats will be subject to VAT; - An enterprise producing goods or providing services subject to 5% VAT will be entitled to VAT refund if its input VAT is not completely offset after 12 months or 4 quarters; - Exports that are derived from natural resources or minerals where the total value of natural resources or minerals plus energy costs makes up at least 51% of the prime cost will be subject