vtv2 trực tiếp bóng đá hôm nayWhat is YEP? Are YEP organization expenses deductible when calculating CIT in Vietnam?

What is YEP?

Currently, there is no specific regulation that defines what YEP is. However, you can refer to vtv2 trực tiếp bóng đá hôm nay definition below to understand what YEP entails:

YEP is an abbreviation for vtv2 trực tiếp bóng đá hôm nay term "Year End Party," an annual event organized at vtv2 trực tiếp bóng đá hôm nay end of vtv2 trực tiếp bóng đá hôm nay year, deeply reflecting vtv2 trực tiếp bóng đá hôm nay corporate culture. It is an occasion for organizations and companies to review vtv2 trực tiếp bóng đá hôm nay past journey, appreciate vtv2 trực tiếp bóng đá hôm nay collective efforts of vtv2 trực tiếp bóng đá hôm nay employees, and mark vtv2 trực tiếp bóng đá hôm nay conclusion of a productive year while preparing vtv2 trực tiếp bóng đá hôm nay spirit for vtv2 trực tiếp bóng đá hôm nay new year.

YEP is not merely a party; it is also an opportunity for vtv2 trực tiếp bóng đá hôm nay company's leadership to express recognition for vtv2 trực tiếp bóng đá hôm nay contributions of each individual, department, and partner. It is also a chance for members of vtv2 trực tiếp bóng đá hôm nay organization to meet, interact, share achievements, memorable experiences, and project expectations into upcoming plans and goals.

(1) vtv2 trực tiếp bóng đá hôm nay important significance of vtv2 trực tiếp bóng đá hôm nay Year End Party

vtv2 trực tiếp bóng đá hôm nay Year End Party not only creates a joyful and comfortable environment but also contributes to building strong relationships among vtv2 trực tiếp bóng đá hôm nay company's members. A well-prepared year-end party with engaging activities such as art performances, award presentations, or speeches from leadership will help employees feel vtv2 trực tiếp bóng đá hôm nay company's care and appreciation.

Moreover, YEP is also an occasion for businesses to affirm their distinctive culture, professionalism, and team spirit. Through joyful and meaningful moments, employees will gain additional motivation for work, tighten their relationships with colleagues, superiors, and vtv2 trực tiếp bóng đá hôm nay leadership.

(2) YEP – A commencement for new goals

As a year ends, YEP is a time for everyone to share new plans together, fostering motivation towards greater success. Not just a celebratory occasion, it is a method for companies to establish team spirit, setting a foundation for sustainable development in vtv2 trực tiếp bóng đá hôm nay future.

It can be said that vtv2 trực tiếp bóng đá hôm nay Year End Party is an indispensable event in any organization. Thorough and creative preparation for this party will bring great value, promote work spirit, build corporate culture, and strengthen employees' loyalty to vtv2 trực tiếp bóng đá hôm nay organization.

Note: Information is for reference only!

What is YEP? Are YEP organization expenses deductible when calculating CIT in Vietnam? (Image from internet)

Is it mandatory for businesses to organize Year End Party (YEP) for their employees in Vietnam?

Based on vtv2 trực tiếp bóng đá hôm nay provisions of Clause 2, Article 6 of vtv2 trực tiếp bóng đá hôm nayLabor Code 2019, regarding vtv2 trực tiếp bóng đá hôm nay rights and obligations of vtv2 trực tiếp bóng đá hôm nay employer as follows:

Rights and obligations of vtv2 trực tiếp bóng đá hôm nay employer

1. vtv2 trực tiếp bóng đá hôm nay employer has vtv2 trực tiếp bóng đá hôm nay following rights:

a) Recruit, allocate, manage, supervise labor; reward and handle labor discipline violations;

b) Establish, join, operate in organizations representing vtv2 trực tiếp bóng đá hôm nay employer, occupational organizations, and other organizations per vtv2 trực tiếp bóng đá hôm nay law;

c) Request labor representatives to negotiate for signing collective labor agreements; participate in resolving labor disputes, strikes; dialogue, exchange with labor representatives about labor relations issues, improving employees' material and spiritual life;

d) Temporarily close vtv2 trực tiếp bóng đá hôm nay workplace;

dd) Other rights under vtv2 trực tiếp bóng đá hôm nay law.

2. vtv2 trực tiếp bóng đá hôm nay employer has vtv2 trực tiếp bóng đá hôm nay following obligations:

a) Execute labor contracts, collective labor agreements, and other lawful agreements; respect vtv2 trực tiếp bóng đá hôm nay honor and dignity of employees;

b) Establish mechanisms and conduct dialogues, and exchanges with employees and labor representatives; implement workplace democracy regulations.

c) Train, retrain, nurture to enhance professional skills to sustain, transition careers, and jobs for employees;

d) Comply with labor, employment, vocational education, social security, health insurance, unemployment insurance, occupational safety, and health regulations; develop and implement solutions to prevent sexual harassment at vtv2 trực tiếp bóng đá hôm nay workplace;

dd) Participate in developing national occupational skill standards, evaluating, recognizing employees' professional skills.

Thus, organizing a Year End Party (YEP) is not a mandatory obligation for enterprises toward employees.

This is a voluntary activity, demonstrating vtv2 trực tiếp bóng đá hôm nay goodwill and encouragement from vtv2 trực tiếp bóng đá hôm nay company to show appreciation and boost team spirit, rather than a mandatory responsibility per legal regulations.

Are YEP organization expenses deductible when calculating CIT in Vietnam?

Based on Article 6 ofCircular 78/2014/TT-BTCas amended by Article 4 ofCircular 96/2015/TT-BTC, which regulates deductible and non-deductible expenses when determining taxable income:

Deductible and non-deductible expenses when determining taxable income

1. Except for non-deductible expenses stated in Clause 2 of this Article, enterprises may deduct all expenses if they meet vtv2 trực tiếp bóng đá hôm nay following conditions:

a) Expenses actually incurred related to vtv2 trực tiếp bóng đá hôm nay enterprise's production and business activities.

b) Expenses have sufficient legal invoices and documents as prescribed by law.

c) Expenses if there are invoices from purchasing goods and services each worth 20 million VND or more (inclusive of VAT) must have non-cash payment documents when paying.

Non-cash payment documents shall be implemented per vtv2 trực tiếp bóng đá hôm nay value-added tax law.

In cases where purchasing goods and services each time have a value from twenty million VND and above stated on vtv2 trực tiếp bóng đá hôm nay invoice, but by vtv2 trực tiếp bóng đá hôm nay time of recording expenses, vtv2 trực tiếp bóng đá hôm nay enterprise has not yet paid, vtv2 trực tiếp bóng đá hôm nay expenses can be deducted when determining taxable income. If, upon payment, vtv2 trực tiếp bóng đá hôm nay enterprise does not have non-cash payment documents, it has to declare, adjust, and decrease expenses for vtv2 trực tiếp bóng đá hôm nay part of goods and services lacking non-cash payment documents during vtv2 trực tiếp bóng đá hôm nay tax period with payments made in cash (including cases where tax and relevant authorities have decided to inspect vtv2 trực tiếp bóng đá hôm nay tax period with these expenses incurred).

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Therefore, under legal regulations, vtv2 trực tiếp bóng đá hôm nay expenses of organizing vtv2 trực tiếp bóng đá hôm nay company's YEP can be recognized as reasonable expenses when calculating CIT if this expense meets vtv2 trực tiếp bóng đá hôm nay following 03 conditions:

(1) vtv2 trực tiếp bóng đá hôm nay expenses actually incurred relate to vtv2 trực tiếp bóng đá hôm nay company's production and business activities.

(2) vtv2 trực tiếp bóng đá hôm nay expenses have adequate legal invoices and documents as required by law.

(3) vtv2 trực tiếp bóng đá hôm nay expenses, if involving purchasing goods and services each worth 20 million VND or more (inclusive of VAT), must have non-cash payment documents.