Insight
Expenses electricity, water – not deducted when determining CIT in Vietnam if…?
Electricity and water are services that most businesses have to use during their business, but if there are not enough documents, these cost may not be accepted. Legal grounds: Circular...
Late submitting of tax returns in Vietnam – How is the administrative penalty?
Enterprises are obliged to declare and pay taxes by themselves according to the provisions of Vietnam law. In case of late submitting, there will be administrative penalties. Legal grounds: Decree...
Member of the Board of Directors – Must pay compulsory social insurance?
A member of the Board of Directors is an enterprise manager and may receive salary, remuneration, bonus and other regimes according to regulations. Legal grounds: Enterprise Law 2020; Law on...
Working while learning a job at enterprise – To pay compulsory social insurance?
Enterprises must pay compulsory social insurance if they have employees working under labor contracts with a term of 01 month or more. Legal grounds: Labor Code 2019; Law on Social...
Renting personal property – Documents required to calculate deductible expenses?
Enterprises can rent assets of individuals to use for production and business activities and should note that there are sufficient records to include in deductible expenses when determining CIT. Legal...
Allowance of life insurance for employees – Deductible expenses when calculating CIT?
Enterprises can buy more types of voluntary insurance for employees and include them in deductible expenses when determining CIT if certain conditions are met. Legal grounds: Circular No. 78/2014/TT-BTC; Circular...
Cost of uniforms – CIT deduction only if…?
Enterprises can buy uniforms for employees and include them in deductible expenses when determining CIT, but within certain limits. Legal grounds: Circular No. 78/2014/TT-BTC; Circular No. 96/2015/TT-BTC. Enterprises have the...
Where salary and bonus are not deductible expenses?
Enterprises may include salaries and bonuses for employees in their operating expenses, but may not be able to deduct CIT in some cases Legal grounds: Circular No. 78/2014/TT-BTC; Circular No....
No PIT payment – No need to file tax return?
Enterprises that pay income to employees and have tax deductions are obliged to declare, deduct and pay PIT periodically together with VAT declarations Legal grounds: Decree No. 126/2020/ND-CP; Decree No....
Father dead – Unborn children inherit?
Inheritance is basically based on blood relationship, so children have the right to inherit inheritance left by parents Legal grounds: Civil Code 2015. We get the following questions: I have...
