Consulting on mandatory invoice issuance for each sale of gasoline
The General Department of Taxation (Ministry of Finance) is seeking opinions on the time to issue electronic invoices for the sale of gasoline at retail stores to customers, which is the time when the sale of gasoline ends for each sale.
According to information from the Ministry of Finance, according to the Tax Administration Law No. 38/2019/QH14 issued effective from July 1, 2020, the provisions on electronic invoices and documents of this Law will take effect from July 1, 2022.
Accordingly, the Ministry of Finance said that for the issuance of electronic invoices for each retail sale of gasoline and electronic invoices from cash registers, the Tax sector is continuing to promote propaganda, leadership, direction, and implementation. The use of electronic invoices helps people and businesses understand the benefits and responsibilities, efficiency, and raise taxpayers' awareness of compliance with tax laws.
At the same time, the Tax sector strengthens coordination between local agencies and departments in reviewing and handling violations of business establishments that do not promptly issue invoices to buyers when providing goods in accordance with legal regulations. See more...
A bank officially changes its commercial name
Petrolimex Joint Stock Commercial Bank (PG Bank) has a new commercial name from November 20, 2023.
Mr. Pham Manh Thang - Chairman of the Board of Directors of Petrolimex Commercial Joint Stock Bank (PG Bank - PGB) has just signed a Resolution on changing the commercial name.
Specifically, the bank changed its current Vietnamese name from "Petrolimex Joint Stock Commercial Bank" to "Prosperity and Development Joint Stock Commercial Bank".
Abbreviation changed from "PG Bank" to "PGBank".
That is, from "Petrolimex Group Commercial Joint Stock Bank" to "Prosperity And Growth Commercial Joint Stock Bank".
This Resolution officially takes effect from November 20, 2023. See more...
Traders at Da Nang Supermarket must sign a debt contract to continue trading.
On November 21, traders at Da Nang Supermarket (Thanh Khe District) said that while waiting for the city to come up with a support plan, they were forced to sign a debt for a 40% increase in rent with the operating business.
Ms. KT - a trader with a stall on the 2nd floor of Da Nang Supermarket - said that after the extension period for paying the rent according to the new increased price (from the beginning of 2023), the operating enterprise cut off the electricity of traders who did not pay.
“It was raining those days, the business cut off the electricity, making many areas in the market dark. We had to meet, then go down to the city departments to make a request. Because business was slow, some people had not sold any products for 10 days and had to pay rent that was twice as high as in traditional markets, how could we have enough money?” - Ms. T said. See more...
Bac Giang sends document to FDI enterprises about Global Minimum Tax
On November 21, information from the Bac Giang Provincial Tax Department said that this agency has just sent a document to foreign direct investment (FDI) enterprises in the area regarding the Global Minimum Tax.
Specifically, according to the Bac Giang Provincial Tax Department, on October 8, 2021, the Organization for Economic Cooperation and Development (OECD) issued a statement on the Two-Pillar Solution Framework to address challenges arising from the digital economy.
The second pillar sets a global minimum corporate tax rate of 15% for multinational corporations with consolidated parent company revenue of at least 2 of the 4 years immediately preceding the fiscal year equivalent to EUR 750 million or more (Global Minimum Tax Regulation).
Currently, countries with foreign investment will basically apply the Global Minimum Tax Regulation from 2024 to collect additional taxes, including economies with large investment capital in Vietnam such as Korea, Japan, Hong Kong (China), Singapore... See more...
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