Official letter No.4125/TCT-CS on 16th November, 2011 about guidance on CIT and VAT implementation
CIT incentives:
Under clause 2.2.d Section I, Part H, Circular No. 130/2008/TT-BTC newly established business from investment projects. In case of legal representative (who is also contributing members), limited partners or highest capital contributor participated in the equivalent role in the active or dissolved business but less than 12 months shall not be entitled to the preferential enterprise income tax.
VAT:
Under clause 1.c, Section III, Part B of Circular No. 129/2008/TT-BTC the input VAT of clothing expenses for employees in excess of expense quota shall be included in reasonable expenses to compute taxable income if those expenses meet VAT deductible conditions.
