Tax - Accounting
Depreciation of fixed assets – 9 cases are not considered deductible expenses
Enterprises can depreciate fixed assets to calculate business efficiency, but it is not always considered a reasonable deductible expense when calculating corporate income tax. Legal grounds: Circular...
Purchases goods before July 1, VAT rate10% – Sales after July 1, VAT rate 10% or 8%?
Consumers must pay value added tax when purchasing goods at the VAT rate in effect at the time of purchasing. Legal grounds: Decree No. 44/2023/ND-CP. We receive the following questions:...
Contributing capital with land use rights – Requirement of Issuing an invoice?
Enterprises have the right to contribute capital to other enterprises with land use rights and must fully keep original records of asset formation as well as make minutes of property...
Brokerage expenses for foreign partners – What tax must be paid?
Foreign organizations and individuals act as brokers for Vietnamese enterprises to receive commissions have to be imposed foreign contractor tax. Legal grounds: Circular No. 103/2014/TT-BTC; Circular No. 111/2013/TT-BTC. We get...
Doing business in Vietnam but unregistered business lines – Still accepted?
Enterprises in Vietnam are free to do business in sectors not prohibited by law, but must carry out necessary procedures to limit risks. Legal grounds: Enterprise Law 2020; Decree No....
Rent an apartment as a working place – Note the cost of managing the apartment building
Businesses can rent apartments of individuals to use as business locations. However, not all costs related to the use of the apartment are accepted. Legal grounds: Circular No. 78/2014/TT-BTC; Circular...
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...
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...
