Oficial letter No.5655/CT-TTHT dated 20 August 2013 of HCM taxation Department in guidance of depreciationof leasing land
According to official letter No.5655/CT-TTHT:
From tax period of 2012, an enterprise has leasing land with the duration of 10 years, has the its head office, warehouse located on leasing land to use for business and production will be depreciated in compliance with depreciation frame, lifetime of fixed assets as current regulations of MOF and included deductible expense when CIT is determined if all following conditions are satisfied as follows:
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Have the land leasing contract
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Have invoices of payment for the construction handed over accompanied with construction contracts, contract liquidation, construction finalization with name, address and tax code of the enterprise
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The construction on land leasing are managed and monitored under current regulations of fixed assets management.
