Vietnam: New corporate income tax guidance for 2015

Vietnam: New corporate income tax guidance for 2015

Vietnam’s Ministry of Finance issued guidance concerning corporate income tax. Specifically, the guidance—Circular 96/2015/TT-BTC (22 June 2015)—contains provisions concerning:


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  • Corporate income tax declarations and tax payments for income derived from offshore investment projects
  • Timing for revenue recognition
  • Deductible expenses (e.g., advertising and promotion expenses to be fully deductible, instead of being capped at 15% of total deductible expenses; depreciation expense rule changes; fully deductible life insurance for employees; treatment of housing for expatriates working in Vietnam)
  • Income from processing agricultural and aquatic products in specific zones to be tax-exempt
  • Treatment of losses carried forward on a company separation or division (reorganization)
  • New conditions for applying tax incentives for investment projects

Circular 96 applies for the 2015 tax year, with certain provisions effective as of 1 January 2015.

Read a July 2015 report [PDF 358 KB] prepared by the KPMG member firm in Vietnam: Tax Alert

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