Uni 05-09-2014 - Guidance on tax solutions for difficulty ease for enterprises

According to Resolution No.63/NQ-CP, some tax solutions to ease enterprises’ difficulty from Government should be noted as follows:

1. Extend VAT for 6 months or less for machineries, equipment imported to form fixed assets with value from 100 billion VND.
2. Benefits of employees with legal invoices, documents are included in enterprises’ deductible expenses, which are not over one actual average month salary.
3. Enterprises are entitled to CIT incentive during 2009 – 2013, in which the machineries, equipment business is usually added  during production process, the additional income is entitled to CIT incentive(did not remake for the implemented cases).
4. Not included in PIT taxable income for the employees’ benefits who work in the industrial zones such as housing built, freely provided by employers or housing built by employers in the economic zone, the area having or special difficult or difficult socio-economic conditions providing freely for employees.
5. In case, the temporary payment total CIT is less than the payable CIT as finalization from 20%, the interest of CIT late payment from 20% differences will be charged as from 31 December until the payment actual date of the deficient tax.
6. The limited expense stipulated in point 2.m clause 5 article 1 of Law on CIT No. 32/2013/QH13 is only applied to advertisement expense.
7. In case, arising revenue, expense, tax assessable price in foreign currency, they must be converted into VND in compliance with the actual exchange rate at the arising time.