OFFICIAL LETTER 1688/CTNDI-TTHT ABOUT ON TRANSFERRING PROFITS ABROAD BY DEBT OFFSETTING
Official letter 1688/CTNDI-TTHT on transferring profits abroad by offsetting debts:
Based on the above provisions:
- In case the Company transfers 2022 profits abroad to the parent company, Smart Shirts Company Limited, by way of debt offset, if it meets the conditions specified in Circular No. 186/2010/TT-BTC dated November 18, 2010 of the Ministry of Finance, the Company shall notify the tax authority directly managing the profits abroad in accordance with the provisions of Circular No. 186/2010/TT-BTC mentioned above.
- Payment for exported goods and services by offsetting debts as above is not considered as payment via bank, so the Company is not eligible to deduct and refund input tax on exported goods and services as prescribed in Article 16 of Circular No. 219/2013/TT-BTC.
