January Newsletter

ACAC – Financial Newsletter January 2025

ACAC – Supporting businesses in a new policy environment

At ACAC Consulting and Auditing Co., Ltd., we always place great importance on staying updated with policies and providing accurate professional knowledge to help businesses make effective financial decisions, comply with regulations, and adapt flexibly in a changing economic landscape.

The January 2025 financial newsletter summarizes the most notable updates on taxation, accounting, auditing, and corporate governance, extracted from the latest documents, official letters, and decrees issued by regulatory authorities.

“As an independent consulting firm, ACAC is committed to delivering practical value to clients through timely updates, in-depth analysis, and dedicated support in implementing financial and tax regulations effectively.”

Nguyễn Thị Mai Anh
General Director

Guidelines and updates on tax policies

1. Value Added Tax (VAT)
   The General Department of Taxation issued several important official letters providing guidance on tax refunds for Export Processing Enterprises (EPEs) and investment projects. According to Official Letters No. 51/TCT-CS and 45/TCT-KK, enterprises that both export and sell domestically must separate input for exported goods; if not separable, allocation must follow the export revenue ratio. These regulations emphasize the control of records and determination of refund periods as stipulated in the Law on Tax Administration No. 38/2019.
2. Corporate Income Tax (CIT)
   According to Official Letter 49/TCT-CS, products classified under the prioritized supporting industry list (as per Decision 1483/QĐ-TTg) are eligible for a preferential tax rate of 10% for 15 years, along with 4 years of exemption and a 50% reduction for 9 subsequent years. The application period starts from the issuance date of the Confirmation Certificate by the Ministry of Industry and Trade.
3. Personal Income Tax (PIT)
   According to Official Letter 4982/TCT-DNNCN, non-executive remuneration of Board of Directors members is classified as income from wages and salaries and must be subject to a 10% withholding tax if there is no labor contract of at least 3 months.
4. Other taxes
   Decree 153/2024/NĐ-CP stipulates environmental protection fees for emissions applicable from January 5, 2025, including a fixed fee of VND 3,000,000/year for facilities without monitoring systems and variable fees based on pollutant loads (dust, NOx, SOx, CO).
   In addition, Official Letter 5413/TCT-CS provides guidance on identifying land prices for financial obligations when converting land use purposes, allowing the conversion of prepaid land rent into new land obligations.

Governance and policy issues

The Ministry of Planning and Investment targets that by June 30, 2025, 80% of enterprises and cooperatives will be issued digital identification accounts to synchronize with the national database systems.
At the same time, the Ministry of Labor, Invalids and Social Affairs issued Circular 12/2024/TT-BLĐTBXH, amending 10 circulars related to labor management, wages, and remuneration, extending the guidance to state-owned enterprises.

Official Letter 29/TCT-TTKT emphasizes strengthening tax inspection and document reconciliation, especially for high-risk enterprises, and launching a nationwide campaign to combat electronic invoice fraud.

Transparency – Updates – Partnership

Through our monthly newsletter, ACAC not only provides official information but also helps businesses understand the impact of new policies, thereby proactively adjusting financial strategies and risk management.

We believe that transparency, standards, and timely updates are essential foundations for the sustainable development of Vietnam’s business community in the era of global integration.

📄 Full document:

Accounting – Auditing – Tax & Corporate Finance Newsletter January 2025