CORPORATE INCOME TAX-2.pptx

8/17/2019 CORPORATE INCOME TAX-2.pptx

1/39

L/O/G/O

CORPORATE INCOMETAX

LAW ON FINANCE AND BANKING


2/39

Introduction

Group member!

"o#n$ N$#n Gi#n$P%#m T%u& "on$P%#m K%#n% Lin%N$u&en P%uon$ T%#oDo T%u& Tien

'tructure!

I( De)inition #nd Ob*ecti+eII( T#, Dec-#r#tion #nd P#&mentRe$imeIII( Ground )or T#, C#-cu-#tionI.( T#, E,emption.( Re/#rdin$ #nd Puni%ment.I( Imp-ement#tion


3/39

De)inition #ndOb*ecti+e


4/39

1. Definition

- CIT is a direct tax levied on the profits earned

by companies or organizations in one fiscal year.

- CIT applies to all domestic and foreign entities

that invest in Vietnam

- Taxable income includes income from

production and/or trading of goods and

provision of services, as ell as other incomes

(Ariticle 3, Law on enterprise income tax 1999)


5/39

2. Objectives

• !nsure stable contribution to "tate budget

• #a$e certain of social fairness

• !valuate the performance of taxpayers


6/39

TAX DECLARATION

#nd

PA0MENT REGIME


7/39

PA0MENT REGIME

Tax Period

• Follow the calendar year or fiscal year.

•Upon each time of income generationapplies to foreign enterprises specified.

• Accepted to change its tax period but not

exceed 12 months.


8/39

Place of TaxPayment

Main headoffice place

!therpro"ince or

city


9/39

TAX CALC1LATION


10/39

TA#$A%&%

TA#&'()*!M&

TA#

+AT&


11/39

TAXED INCOME

TU+)!,&+

'&'U*T($-&

P&)%&

!T&+ ()*!M&%

TA#A$-& ()*!M&

TA#A$-& ()*!M&

TA#&MPT

()*!M&%

-!%%&% F+!M

P+&,(!U% /&A+%

TA#&' ()*!M& ()

A TA# P&+(!'

P +

! ' U * T ( !

)

A ) '

$ U % ( ) & % %


12/39

• TU+)!,&+

• '&'U*T($-& P&)%&% 0 conditions

T!TA- %A-&% P+!*&%%()+&MU)&+AT(!)

%&+,(*&

P+!,(%(!)*A+&%

%U$%('(&% %U+*A+&%

1 • Actually paid

2 • +elated to production and business acti"ities

• Ade3uate in"oices and documents


13/39

TAX RATE

• -aw on &nterprise (ncome Tax

415627786912:

• *ircular ;8627156TT$T*

• *ircular 6TT$T*


14/39

TAX CALC1LATION

&xample0

Taxed income 42712: ? 12.>25.


15/39

TAX EXEMPTION


16/39

TAX EXEMPTION

• %a on !nterprise Income Tax

&'(/)**+/')

• %a o.0)/)*'0/'0• %a o.1'/)*'(/'0


17/39

TAX EXEMPTION

• 2ecree o.)'3/)*'0/4-C5

• 2ecree o.)'+/)*'0/2-C5

• 2ecree o.')/)*'3/2-C5


18/39

TAX EXEMPTION

• Circular o.1+/)*'(/TT-6TC

• Circular o.''7/)*'(/TT-6TC

• Circular o.'3'/)*'(/TT-6TC

• Circular o.78/)*'3/TT-6TC


19/39

TAX EXEMPTION

• 5ursuant to %a on !nterprise

Income Tax )**+ and Circular o.

1+/)*'(/TT-6TC9 Circular o.78/)*'3/TT-6TC, tax-exempt

incomes included:


20/39

TAX2EXEMPT INCOME'

Cooperatives ;

difficult socio-economic areas

Cultivation

usbandry


21/39

TAX-EXEMPT INCOMES

>ood production/"ervices

2isabled

2rug-detoxified

IV-infected

?ob-trainingactivities

!thnicminority

2isabled

Children inextremely

disadvantagedcircumstances

5ersonsinvolved insocial evils

2omesticenterprises

Capitalcontribution

?oint venture


22/39

TAX-EXEMPT INCOMES


23/39

TAX2EXEMPT INCOME'

Undi"idedincomes

&stablishmentsengaged insocialiedacti"ities

*ooperati"es

Technologytransfer

Prioritiedfields

'ifficult socioeconomicconditions


24/39

TAX-EXEMPT INCOMES

• !xample of capital contribution ith

domestic enterprise:

!nterprise 6 receives contributedcapital from enterprise


25/39

TAX2EXEMPT INCOME'

• Case ': !nterprise 6 is ineligible for enterprise

income tax incentives and has fully paid

enterprise income tax, including enterprise


26/39

TAX2EXEMPT INCOME'

• Case ): !nterprise 6 is eligible for 3* reduction

of the payable enterprise income tax amount and

has fully paid enterprise income tax, including

enterprise


27/39

TAX2EXEMPT INCOME'

• Case 0: !nterprise 6 is eligible for

enterprise income tax exemption, then the

income enterprise < receives from capitalcontribution is V2 '** million, and

enterprise < ill be exempt from

enterprise income tax on this amount.


28/39

TAX EXEMPTION D1RATION

• Tax exemption for ( years and 3*

reduction of payable tax amounts for

7 subse=uent years


29/39


• Tax exemption for ( years and

3* reduction of payable tax

amounts for 3 subse=uent years


30/39


• Tax exemption for ) years and

3* reduction of payable tax

amounts for ( subse=uent years


31/39

Re/#rdin$ #nd

Puni%ment


32/39

.( Re/#rdin$ #nd Puni%ment

*(T -aw ,iolation0 4-aw on &nterprise (ncome Tax 1


33/39


%pecific punishment cases can be found in

-aw on *(T 1


34/39


The eads of tax agenciesB the 'irectors of

the tax departments and the eads of the

tax subdepartments are competences in

handling of tax "iolation.


35/39


&xample0

(n May 271>B Metro *ash C *arry ,ietnam

has been detected tax e"asion and transfer

pricing. They had to pay >7; billion ,)'B

fines included.


36/39


Tax officials and other indi"iduals who abuse

their positions and powers to misappropriate

taxB co"er "iolators or out of irresponsibility

that caused damaged to tax payers or %tate$udget shall be punishment.

%pecific cases can be found on -aw on *(T1


37/39


o"ernment shall stipulate reward in detail

to0

• tax agencies and tax officials that fulfill

well their assigned tasDs

• organiations and indi"iduals that well

perform the tax payment obligations.


38/39

.I(Imp-ement#tion

The -aw on &nterprise (ncome Tax 2778

taDes effect on Eanuary 1B 277< and specify

the changes for enterprises which enoy tax

incenti"es and tax exemption or reductionfor remaining duration.


39/39

T"ANK 0O1 FOR

LI'TENING

Date post:	06-Jul-2018
Category:	Documents
Upload:	meo-mam-non
View:	217 times
Download:	0 times

CORPORATE INCOME TAX-2.pptx

Documents