Is income from job-training activities exclusively reserved for ethnic minority people eligible for corporate income trực tiếp bóng đá k+ reduction in Vietnam?
Is income from job-training activities exclusively reserved for ethnic minority people eligible for corporate income trực tiếp bóng đá k+ reduction in Vietnam?
Pursuant to Clause 5, Article 4 of theLaw on Corporate Income trực tiếp bóng đá k+ 2008, as supplemented by Clause 3, Article 1 of theLaw on Amendments to the Law on Corporate Income trực tiếp bóng đá k+ 2013, specifies the trực tiếp bóng đá k+-exempt income as follows:
trực tiếp bóng đá k+-exempt income
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Income from job-training activities exclusively reserved for ethnic minority people, people with disabilities, children in especially difficult circumstances, and social evils subjects.
Income distributed from activities of capital contribution, joint ventures, or associations with domestic enterprises after paying corporate income trực tiếp bóng đá k+ as prescribed by this Law.
Donations received for use in activities of education, scientific research, culture, arts, charity, humanitarian and other social activities in Vietnam.
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Thus, according to the above regulations, income from job-training activities exclusively reserved for ethnic minority people is exempt from corporate income trực tiếp bóng đá k+.
Is income from job-training activities exclusively reserved for ethnic minority people eligible for corporate income trực tiếp bóng đá k+ reduction in Vietnam?(Image from the Internet)
What is the penalty for late submission of corporate income trực tiếp bóng đá k+ declaration dossiers in Vietnam?
According to the provisions of Article 13 ofDecree 125/2020/ND-CPwhich stipulates the penalties for violations related to the deadline for submission of trực tiếp bóng đá k+ declaration dossiers as follows:
- Warning for submitting a trực tiếp bóng đá k+ declaration dossier late from 01 to 05 days with extenuating circumstances.
- Fine from 2,000,000 VND to 5,000,000 VND for submitting a trực tiếp bóng đá k+ declaration dossier late from 01 to 30 days, except for the case specified in Clause 1 of this Article.
- Fine from 5,000,000 VND to 8,000,000 VND for submitting a trực tiếp bóng đá k+ declaration dossier late from 31 to 60 days beyond the prescribed deadline.
- Fine from 8,000,000 VND to 15,000,000 VND for one of the following acts:- Submitting a trực tiếp bóng đá k+ declaration dossier more than 61 to 90 days late;- Submitting a trực tiếp bóng đá k+ declaration dossier more than 91 days late without incurring any trực tiếp bóng đá k+ payable;- Not submitting a trực tiếp bóng đá k+ declaration dossier without incurring any trực tiếp bóng đá k+ payable;- Not submitting appendices as prescribed for trực tiếp bóng đá k+ management concerning enterprises with related-party transactions along with the corporate income trực tiếp bóng đá k+ finalization dossier.
- Fine from 15,000,000 VND to 25,000,000 VND for submitting a trực tiếp bóng đá k+ declaration dossier more than 90 days late from the deadline, with trực tiếp bóng đá k+ payable incurred and the taxpayer having fully paid the trực tiếp bóng đá k+ amount, late payment into the state budget before the trực tiếp bóng đá k+ authority announces the decision to inspect or audit the trực tiếp bóng đá k+, or before the trực tiếp bóng đá k+ authority makes a record on the late submission of the trực tiếp bóng đá k+ declaration dossier as stipulated in Clause 11, Article 143 of the trực tiếp bóng đá k+ Administration Law.
Note:For the same administrative trực tiếp bóng đá k+ violation involving invoices, the fine for organizations amounts to twice the fine for individuals.
How to determine taxable corporate income in Vietnam?
Pursuant to Article 7 of theLaw on Corporate Income trực tiếp bóng đá k+ 2008, as amended and supplemented by Clause 2, Article 1 of theLaw on Amendments to the Law on Corporate Income trực tiếp bóng đá k+ 2013and Clause 1, Article 1 ofLaw No. 71/2014/QH13 on Amending trực tiếp bóng đá k+ Laws 2014, it specifies taxable income as follows:
Taxable income
Taxable income includes income from production, business activities of goods, services, and other income specified in Clause 2, Article 7 of the Law on Corporate Income trực tiếp bóng đá k+ 2008.
Other income includes: income from the transfer of capital, transfer of rights to contribute capital; income from the transfer of real estate, transfer of investment projects, transfer of rights to participate in investment projects, transfer of rights to explore, extract, process minerals; income from property use rights, property ownership rights, including income from intellectual property rights as prescribed by law; income from transferring, leasing, liquidating assets, including papers of value; income from deposit interest, lending, selling foreign currency; amounts obtained from recovering bad debts previously written off; amounts obtained from liabilities whose creditors cannot be identified; income from business operations of previous years overlooked, and other incomes.
Vietnamese enterprises that have invested abroad transfer their post-trực tiếp bóng đá k+ corporate income back to Vietnam after having paid corporate income trực tiếp bóng đá k+ abroad. For countries with which Vietnam has signed an Agreement to Avoid Double Taxation, the provisions of said Agreement shall apply; for countries not having signed such an Agreement with Vietnam, if the foreign corporate income trực tiếp bóng đá k+ rate is lower, the difference shall be collected according to the Law on Corporate Income trực tiếp bóng đá k+ of Vietnam.
Thus, according to the above regulations, taxable income of enterprises includes income from activities including from production, business goods, and other income as prescribed.
