No foreign contractor tax on overdue interest

Under Official Letter 412 TCT/DTNN dated February 1, 2005 of the general Department of Taxation, if businesses have to pay interest due to late payments in accordance with the contracts of supplying machinery and equipment, materials and exchanging products for foreign contractors, these late-paid interests will not be subject to contractor tax.
[Official Letter 412 TCT/DTNN dated February 1, 2005]

 

Category: Legal