06-02-2020: Tax policy on depreciation of apartment

Official letter No 97/CT-TTHT dated of January 20, 2020 about depreciation of apartment is deductible expense when calculating CIT as follows:

In case the company buys apartment for the foreign manager and staff, who are serving for the company. If this apartment is owned by the company as stated in the Certificate of house ownership, the depreciation of apartment is deductible expense when calculating taxable income for the CIT. Deductible expenses, expenses for electricity and water … are paid by company for the user which are taxable income of the apartment user as the regulation in Article 11 Cicular No 92/2015/TT-BTC of The Ministry of Finance.