Tax News Letter – June 2020

In this issue:

Decree No. 68/2020 amending and supplementing the method of determining deductible interest expenses in cases enterprises engaged in transfer pricing
  • Raising the threshold to control interest expense to 30%;
  • Changing the way of determining deductible interest expenses;
  • Allowing the transfer of non-deductible interest expenses to the following tax period;
  • Allowing determination of deducted interest expenses and submit additional CIT declarations for FY2017 and 2018 according to the amended content.
The tax office is competent to make a record of violations of accounting regulations
  • The tax authority has the authority to check and make a record of violations against regulations on accounting;
  • However, the tax authority has no authority to sanction but will forward the minutes to other competent authorities to issue a sanctioning decision.
Anti-epidemic Covid-19 expenses
  • Are expenses of company such as purchasing masks, hand sanitizer, testing for infectious diseases and paying isolation expenses for employees considered as reasonable expenses when calculating CIT?
  • Are the expenses mentioned above subject to PIT?
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