CORPORATE INCOME TAX (CIT)

  1. Tax policy for bank loans and personal loans.

VALUE ADDED TAX (VAT)

  1. Guidance on the value added tax policy for real estate transfer activities.

PERSONAL INCOME TAX (PIT)

  1. Authorized personal income tax finalization.
  2. Settlement of personal income tax for the foreign workers returning home.

CUSTOMS & IMPORT EXPORT DUTIES

  1. No capped value for imports being gift/present.
  2. Impose anti-dumping duty on some cold-rolled (cold-pressed) carbon steel in rolls or plates originated from China.
  3. Guidance on the declaration of “Quantity” on Customs declaration form and Customs finalization report.
  4. Guidance on the importation of rubber gloves.

Tax Newsletter February 2021