Vietnam NewsBrief Tax update Fiscal stimulus measures for 2013 27 February 2013

Vietnam NewsBrief
Tax update
27 February 2013
Fiscal stimulus measures for 2013
Following Resolution 02 of the Government issued on 7 January 2013 (see details in our NewsBrief of 16
January), the Ministry of Finance issued Circular No. 16/2013/TT-BTC (“Circular 16") dated 8 February
providing detailed guidance on the fiscal stimulus measures for the 2013 year.
Circular 16 mainly repeats Resolution 02 but provides a number clarifications, including the following:
•
The number of employees used to determine qualifying SMEs and labour-intensive enterprises is based
on the 2012 year average employee number. For enterprises newly established in 2013, it is the average
employee number for the period from establishment date to quarter end.
•
The revenue criteria is based on item 01 of Form 03-1A/TNDN attached to the 2012 annual Corporate
Income Tax (“CIT”) return.
•
The tax amount entitled to payment deferral for enterprises carrying out both eligible and non-eligible
activities can be based on the revenue ratio.
Qualifying enterprises need to declare the CIT/ Value Added Tax liabilities entitled to payment deferral in
an appendix (per the format attached to Circular 16) and submit it together with the monthly/quarterly tax
returns.
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Please contact us if you have any questions.
PwC
This publication has been prepared for general guidance on matters of interest only, and does not constitute
professional advice. In Ho Chi Minh City: contact Richard Irwin or Nguyen Thanh Trung (Tax), Masako
Tsunoi/ Futoshi Funamoto (Japanese Business), Seong Ryong Cho (Korean Business), Bee Han Theng (Asian
Chinese Business Services) at phone (84-8) 38230796, fax (84-8) 38251947. In Ha Noi: contact Dinh Thi
Quynh Van (Tax), Satoshi Inoue (Japanese Business) at phone (84-4) 39462246, fax (84-4) 39460705.