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May 2023 News Summary

I. General regulation documents


1. Circular 23/2023/TT-BTC provides guidelines for the management, depreciation, and amortization of fixed assets in governmental agencies, organizations, units, and fixed assets transferred to enterprises for management excluding state capital component in the enterprises


Issued by: The Ministry of Finance. Issued date: May 24, 2023


In Circular 23/2023/TT-BTC dated April 25, 2023, guidelines are provided for the management, depreciation, and amortization of fixed assets in governmental agencies, organizations, units, and fixed assets transferred to enterprises for management, excluding the state capital component in the enterprises.

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May 2023 News Summary

1.1. Criteria for determining fixed asset


According to Article 3 of Circular 23/2023/TT-BTC, the criteria for determining fixed assets are as follows: Fixed assets that are managed, depreciated, and amortized in governmental agencies, organizations, units, and fixed assets transferred to enterprises for management, excluding the state capital component in the enterprises, must meet the following two conditions:

  • Have a useful life of one year or more.

  • Have an original value of 10,000,000 Vietnamese Dong (ten million Dong) or more.

However, for assets in public non-business units, they are only recognized as fixed assets if they meet the following two conditions:

  • Have a useful life of one year or more.

  • Meet the conditions regarding the original value of fixed assets as prescribed for enterprises.

2. Classification of fixed assets


According to Circular 23/2023/TT-BTC, the classification of fixed assets by government agencies is as follows:


- Classification based on the nature and characteristics of assets:

  • Tangible fixed assets: These are assets that have a physical form, either as independent structures or as a system consisting of interconnected parts to perform specific functions.

  • Intangible fixed assets: These are assets that do not have a physical form but have been invested in by the agency, organization, unit, or enterprise to create the asset or have been formed through operational activities.

  • Special-purpose fixed assets: These are assets whose formation costs cannot be determined or whose actual value cannot be evaluated but require strict management of the physical object (such as antiques, artifacts exhibited in museums, tombs, historically classified relics, ancient documents, rare documents, etc.). Fixed assets can also include the brand of a public non-business unit.

- Classification based on the origin of asset formation:

  • Fixed assets formed through purchase.

  • Fixed assets formed through construction investment.

  • Fixed assets received through transfer.

  • Fixed assets received as gifts or incentives (including cases where suppliers exchange old assets for new ones after a period of use, according to the policies of the manufacturer/supplier).

  • Fixed assets are discovered as surplus during an inventory (not previously recorded in the accounting books).

  • Fixed assets received by public non-business units after the expiration of joint ventures or partnerships as stipulated in Clause 6 of Article 47 of Decree 151/2017/NĐ-CP.

  • Fixed assets formed from other sources.

Additionally, the depreciation period and depreciation rates for tangible fixed assets can be found in Annex 01 and Annex 02 of Circular 23/2023/TT-BTC.


Circular 23/2023/TT-BTC is Issued from June 10, 2023, and replaces Circular 45/2018/TT-BTC dated May 7, 2018.


2. Document NO. 10/VBHN-BCT - Circular supplementing the detailed list according to the HS code of imported and exported goods specified in a number of circulars of the ministry of industry and trade.


Issued by: Ministry of Industry and Trade. Issued date: May 24, 2023

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May 2023 News Summary

At the request of the Director of the Import-Export Department, The Minister of Industry and Trade promulgates additional Circulars of imported and exported goods specified in a number of Circulars of the Ministry of Industry and Trade, specifically as follows:

  • Detailing a number of articles of the Government's Decree No. 107/2018/ND-CP dated August 15, 2018 on rice export business.

  • To amend, supplement and abolish a number of regulations on administrative procedures in the field of export and import on the simplification of administrative procedures within the scope of management functions of the Ministry of Industry and Trade.

  • Guide the certification and procedures for importing and exporting rough diamonds in order to enforce the provisions of the Kimberley Process Certification Regulation.

  • Detailing a number of articles of Decrees related to tobacco trading.

  • Coal export regulations.

This Circular takes effect from January 29, 2020.


3. Decision 13/2023/QDD-TTG promulgating the list of scraps allowed to be imported from abroad as raw materials for production


Issued by: Prime Minister. Issued date: May 22, 2023


On May 22, 2023, the Prime Minister issued Decision 13/2023/QD-TTG promulgating the List of scraps allowed to be imported from abroad as raw materials for production.


Accordingly, the list of scraps allowed to be imported from abroad as raw materials for production includes the following 5 groups of scrap:

  • Category 1: Scrap iron, steel, cast iron.

  • Category 2: Scraps and scraps of plastic (plastic).

  • Category 3: Paper scrap.

  • Category 4: Glass scrap.

  • Category 5: Non-ferrous metal scrap.

Organizations and individuals that directly import scrap as raw materials for production may only import scrap as raw materials for production for their establishments according to their designed capacity to produce products and goods.


From June 1, 2023, the import of small-grain slag (sand slag) from the iron or steel smelting industry (with HS code 2618 00 00) as raw materials for cement production shall comply with the law on products and goods on construction materials.


On the import of some scrap that has been licensed before June 1, 2023

  • Paper scrap with HS code 4707 90 00 has been removed from the List of scrap allowed to be imported from abroad as raw materials for production from June 1, 2023.

However, if this scrap has been granted a component environmental permit before June 1, 2023, it will continue to be imported until the validity of the component environmental permit expires.

  • Scraps of plastic with HS code 3915 90 00 that are allowed to be imported under a component environmental permit or an environmental permit issued before June 1, 2023 are continued to be imported until the validity of the permit already issued.

  • Scraps that are allowed to be imported under component environmental permits or environmental permits issued before June 1, 2023 with different names but HS codes that have not changed are allowed to continue to be imported until the validity of the issued permit expires.

4. Circular 1483/TCT-KK about the implementation of tax payment based on tax declairation's identification code


Issued by: General Department of Taxation. Issued date: April 24, 2023

On 24 April 2023, the General Department of Taxation issued Circular No. 1483/TCT-KK-2023 to provide guidance on the implementation of tax payment based on the tax declaration’s identification code (“ID”), and enhance transparency and efficiency in tax management. This will improve the accuracy and synchronization in tax data collection and processing.


The circular also requires tax authorities to provide detailed guidance and support to ensure that taxpayers can comply with these regulations conveniently and accurately. Additionally, the circular announces the strengthening of measures to inspect, supervise, and strictly handle cases of tax violation.


The official letter mentioned a number of new points in the declaration and payment of taxes, and other receivables belonging to the state budget collected by the tax agency according to the payable ID, which the tax agency should pay attention to.


Simultaneously, in this official letter, the General Department of Taxation (GDT) provides detail guidelines on how to carry out the following tasks:

  • Checking the status of tax liability processing on the GDT's e-tax portal.

  • Creating payment documents for transferring funds to the state budget on the GDT's e-tax portal.

  • Reconciliation and adjustment of information based on the tax payable ID.

For each task mentioned above, the GDT mentions new implementation methods on e-tax portal and other relevant applications. Accordingly, the instructions also cover the specific procedures for enterprises and individuals on applications.


Besides, the official letter also provides a list of tax officers assisting in the application of tax payable ID. The detailed list is mentioned in Appendix 03 attached with the official letter No. 1483/TCT-KK dated 24 April 2023.


5. Official letter NO. 2114-TCHQ-GSQL guidelines for implementing recept certificate of origin (CO)


Issued by: General Department of Customs. Issued date: May 1, 2023


On May 5, 2023, based on the notification from the ASEAN Secretariat within the framework of the Regional Comprehensive Economic Partnership (RCEP) Agreement, the General Department of Customs issues the following guidelines:

  • New RCEP CO issued by the China Council for the Promotion of International Trade (CCPIT): The China Council for the Promotion of International Trade will implement the RCEP Agreement with the new CO format starting from May 1, 2023 (The new CO form is attached to the official letter no. 2114 TCHQ-GSQL).

  • List of authorized officials' signature samples for issuing CO in China: China will not provide a list of authorized officials' signature samples for issuing CO in their country on the ASEAN Secretariat's website. Instead, the electronic information portal has been notified for CO information lookup, within the RCEP framework.

6. Official letter NO.2140/TCHQ-GSQL on guiding for e-commerce trade goods


Issued by: General Department of Customs. Issued date: May 8, 2023


Receiving problems in the process of implementing point 1, Official Letter No. 3923/TCHQ-GSQL, the General Department of Customs has issued Official Letter No. 2140/TCHQ-GSQL guiding the determination of customs value for goods transacted via e-commerce is sent via courier.


Accordingly, the buyer places an order through an e-commerce site on many days or through many e-commerce sites, but the goods are shipped to Vietnam on the same day and belong to the same master bill of lading with the customs value of each order not exceeding 1,000,000 VND will be entitled to the tax-free rate.

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May 2023 News Summary

7. Announcement NO. 2298/TB-TTKQH about the conclusion of The Standing Committee of The National Assembly regarding the solution project of The National Assembly on value-added tax reduction


Issued by: The Standing Committee of National Assembly. Issued date: May 13, 2023


On May 13, 2023, the National Assembly Standing Committee finalized the discussion and made the conclusion on the National Assembly's Resolution on value-added tax reduction, specifically as follows:

  • Agreed to add the National Assembly's Resolution on value-added tax reduction to the 5th Session Program, and at the same time submit it to the National Assembly for consideration, brief procedures, and include in the content of the Joint Resolution of the 5th Session.

  • Agreed on the scope of application of the value-added tax reduction policy as specified in Resolution No. 43/2022/QH15 dated January 11, 2022, the application period of the Resolution is from July 1, 2023, to December 31, 2023.

  • Requested the Government to acknowledge the opinions of the Standing Committee of the National Assembly and the inquiry opinions of the Finance and Budget Committee to complete the dossier on value-added tax reduction for submission to the National Assembly.

II. Other reference documents


1. Official letter NO. 2036/TCHQ-TXNK on answering questions about tax refund procedures for imported goods


Issued by: General Department of Customs. Issued date: April 27, 2023


The letter stipulates tax refund procedures for goods imported for production and business and then exported to foreign countries as follows:

  • When carrying out procedures for exporting products manufactured from imported goods for production and business, taxpayers must declare on the export declaration that the exported products are manufactured from previously imported goods.

  • When carrying out procedures for a tax refund, taxpayers must declare in detail that export products are manufactured from imported goods in which import declaration, the amount of used materials and supplies, and the actual usage norms ... according to Form No. 10, Appendix VII issued together with Decree No. 18/2021/ND-CP and submit relevant documents for customs authorities to consider processing import tax refund.

2. Official letter No. 2093/TCHQ-GSQL on guiding for an import tax refund for foreign processed products


Issued by: General Department of Customs. Issued date: May 8, 2023


The letter pointed out the case of exemption from export tax on imported and semi-finished products manufactured from all imported goods delivered for production or re-processing. In that case, the company that imports raw materials for export production then delivers semi-finished products manufactured from all imported raw materials outsourced abroad for processing, will be exempt from export tax.


Products that are processed overseas are imported into Vietnam shall be dutiable at the import duty rates as prescribed at Point d, Clause 1, Article 11 of Decree 134/2016/TT-BTC (exempt from import tax on the value of exported raw materials, supplies and components constituting the processed product and is subject to tax on the remaining value of the product at the import tax rate of the imported processed product).


Imported processed products that are further processed in Vietnam and then exported abroad are not eligible for import tax refund specified in Article 19 of the Import-Export Tax Law No. 107/2016/QH13.


Regarding the deduction and refund of VAT at the import stage, the Company needs to contact the tax authority for specific instructions.


3. Official letter No. 1798/TCT-TTKT regulates the review and handling of illegal invoice


Issued by: General Department of Customs. Issued date: May 8, 2023


The letter regulates the tax review and handling for illegal invoice trading and publishes the list of 524 businesses that have invoice risks and requires Tax Departments to focus on reviewing and dealing with tax violations on invoices issued by these enterprises


In case, the enterprise under the management tax authority, which has used the invoice issued by one of the above 524 enterprises, must explain and clarify the use of the invoice to account the allowable expenses and deduct VAT/ refund VAT, legitimize smuggled goods.


At the same time, in case the enterprise issues sales invoices to other local businesses issued in 2020, 2021, 2022, which are not included in the e-invoice data of the General Department of Taxation, it is necessary to promptly send a written notice to the relevant tax authorities and enter information on the invoice verification application to coordinate, compare, review and handle according to regulations.


May 2023 News Summary
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