VAT

Viet Nam has extended the payment deadline for certain taxes and land rental fees. Decree 34/2022/ND-CP, which took effect on 28 May 2022 states that the various deadlines for payments of corporate income tax (CIT), value-added tax (VAT), land rental fees, and personal income tax (PIT) for 2022 have been extended. More

According to guidelines recently issued by the Guangdong Provincial Tax Service of the State Taxation Administration, general taxpayers of value-added tax (VAT) on enterprises that obtain an income from renting residential properties or affordable housing to individuals shall calculate VAT payable using the simplified VAT calculation method. Small-scale taxpayers shall pay this tax at a reduced rate of 1.5%, down from 5%. More

Indonesia has imposed value-added tax (VAT) on financial technology (fintech) services starting 1 May 2022. More

The Ministry of Finance and the State Taxation Administration recently issued a joint notice on value-added tax (VAT) policies to help China’s hard-hit service sectors. The policies include extension of enhanced VAT tax credits for consumer services until 31 December 2022, and suspension of prepayment of VAT by subsidiaries of aviation and rail transport enterprises from 1 January-31 December 2022. More