Circular No. 64/2010/TT-BTC amends and supplements Circular No. 134/2008/TT-BTC of the Ministry of Finance to guide the implementation of tax obligations for foreign organizations and individuals conducting business in Vietnam or earning income in Vietnam. This document provides detailed regulations on types of taxable income and methods of calculating revenue for corporate income tax purposes.
适用范围
Foreign organizations and individuals conducting business in Vietnam or earning income in Vietnam.
要点
- Foreign individuals/entities → interest from loans and deposits (except interest of foreign individuals and interest from accounts maintaining operations of diplomatic missions) is considered taxable income; bond interest (except tax-exempt bonds) and fees related to loan contracts also fall under taxable income.
- Foreign individuals/entities → proceeds from the transfer of securities, bonds, deposit certificates (except tax-exempt bonds) are considered taxable revenue for corporate income tax purposes.
🌐 本文件的社会影响
- Positive impact: Ensures fairness in taxing foreign organizations and individuals conducting business in Vietnam, preventing abuse of loopholes to evade taxes.
- Negative impact: May increase financial burden on foreign organizations and individuals due to compliance with new regulations on calculating taxable income.
❓ 常见问题
Is interest from loans subject to taxation?
Yes, interest from loans (except interest of foreign individuals and interest from accounts maintaining operations of diplomatic missions) is subject to taxation.
Is revenue from the transfer of securities subject to taxation?
Yes, revenue from the transfer of securities (except tax-exempt bonds) will be considered taxable revenue for corporate income tax purposes.
Is interest from deposits of foreign individuals subject to taxation?
No, interest from deposits of foreign individuals is not subject to taxation according to the new regulations.
Which bonds are exempt from tax?
Tax-exempt bonds are not specified in this document, further reference to other tax laws is required.
When does this circular take effect?
This circular takes effect 45 days from the date of issuance.
全文
CIRCULAR
Amending and supplementing Circular No. 134/2008/TT-BTC dated December 31, 2008 of the Ministry of Finance guiding the implementation of tax obligations applicable to foreign organizations and individuals conducting business in Vietnam or earning income in Vietnam.
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Pursuant to current laws, ordinances on taxes, fees, and charges of the Socialist Republic of Vietnam, and detailed implementing decrees of the Government for these laws, ordinances on taxes, fees, and charges.
Pursuant to the Law on Value Added Tax No. 13/2008/QH12 dated June 3, 2008; Decree No. 123/2008/NĐ-CP dated December 8, 2008 of the Government detailing and guiding certain provisions of the Law on Value Added Tax.
Pursuant to the Law on Corporate Income Tax No. 14/2008/QH12 dated June 3, 2008; Decree No. 124/2008/NĐ-CP dated December 11, 2008 of the Government detailing and guiding the implementation of certain provisions of the Law on Corporate Income Tax.
Pursuant to Decree No. 118/2008/NĐ-CP dated November 27, 2008 of the Government stipulating the functions, tasks, powers, and organizational structure of the Ministry of Finance;
The Ministry of Finance guides the amendment and supplementation of Circular No. 134/2008/TT-BTC dated December 31, 2008 of the Ministry of Finance guiding the implementation of tax obligations applicable to foreign organizations and individuals conducting business in Vietnam or earning income in Vietnam as follows:
Article 1. Amend and supplement Paragraph 4, Clause 2.3, Section I, Part B Circular No. 134/2008/TT-BTC as follows:
"Income from Loan Interest: is the income of the Lender from loans of any kind, whether or not secured by collateral, where the lender has or does not have the right to benefit from the borrower's profits; income from deposit interest (excluding deposit interest of foreign individuals and deposit interest arising from accounts maintained in Vietnam for the operation of diplomatic missions, representative offices of international organizations, and non-governmental organizations in Vietnam), including any bonuses accompanying deposit interest (if any); income from overdue interest as stipulated in loan contracts; bond interest (excluding tax-exempt bonds), certificate of deposit interest."
Loan interest includes all fees that the Vietnamese party must pay according to the loan contract provisions.
Article 2. 1. Amend and supplement Point d of Clause 2 of Article 24 as follows: đPoint b10, Clause 3.1, Section III, Part B Circular No. 134/2008/TT-BTC as follows:
“b10/ For the transfer of securities, bonds (excluding tax-exempt bonds), certificate of deposits, the corporate income tax revenue is the total sales revenue from transferring securities, bonds, and certificate of deposits at the time of transfer.
Article 3. Effectiveness
This Circular takes effect 45 days from the date of signature..
During implementation, if there are any difficulties, units and businesses are requested to promptly report to the Ministry of Finance for resolution./.
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