THE REGULATION ON TAX ADMINISTRATION FOR ENTERPRISES ENGAGED IN TRANSFER PRICING IS AMENDED
FEE FOR VERIFICATION OF PAPERS AND DOCUMENTS TO VIETNAMESE WOKERS WORKING ABROAD TO BE REDUCED BY 50%
14/09/2020
ADMINISTRATIVE PENALTIES WHEN SENDING/MAKING ADVERTISING MESSAGES, EMAILS, CALLS TO USERS WITHOUT THEIR CLEAR PRIOR CONSENT
18/09/2020THE REGULATION ON TAX ADMINISTRATION FOR ENTERPRISES ENGAGED IN TRANSFER PRICING IS AMENDED
Pursuant to Decree 68/2020/ND-CP issued by the Government and comes into effect from June 24, 2020:
– Accordingly, Total loan interest cost deducted when determining the income subject to corporate income tax of the enterprise engaged in related-party transactions:
(i) Total loan interest cost (excluding deposit interests and lending interests) arising within a specific tax period qualified as a deduction from income subject to corporate income tax shall not exceed 30% of total net profit generated from business activities plus loan interest costs (excluding deposit interests and lending interests) and amortization costs arising within that period.
(ii) This aforementioned regulation shall not apply to loans of taxpayers that are:
- Credit institutions as defined in the Law on Credit Institutions;
- Insurance firms as defined in Law on Insurance Business;
- Loans on-lent by the Government from ODA loans and concessional loans;
- Loans grated for implementing national target programs (including new-style rural area development program and sustainable poverty reduction program);
- Loans granted for investment in programs/projects for implementation of State social welfare policies.
Best regards,
