What are travel expenses according to trực tiếp bóng đá euro hôm nay 2024 Ordinance on proceeding costs in Vietnam?

What are travel expenses according to trực tiếp bóng đá euro hôm nay 2024 Ordinance on proceeding costs in Vietnam?

According to Article 2 of trực tiếp bóng đá euro hôm nay2024 Ordinance on proceeding costs, Travel Expenses are trực tiếp bóng đá euro hôm nay monetary amounts paid to those with authority to conduct proceedings, participants in trực tiếp bóng đá euro hôm nay proceedings, individuals invited to participate in trực tiếp bóng đá euro hôm nay proceedings according to legal regulations on trực tiếp bóng đá euro hôm nay content and level of expenditure regarding per diem policies, conference expenditure policies for state agencies and public service providers.

Note: trực tiếp bóng đá euro hôm nay2024 Ordinance on proceeding coststakes effect from July 01, 2025.

What are travel expenses according to trực tiếp bóng đá euro hôm nay 2024 Ordinance on proceeding costs in Vietnam?(Image from trực tiếp bóng đá euro hôm nay Internet)

Are travel expenses for employees deductible when calculating CIT in Vietnam?

Based on point 2.9 clause 2, Article 6 ofCircular 119/2014/TT-BTC(amended and supplemented by Article 4 ofCircular 96/2015/TT-BTC):

Deductible and non-deductible expenses when determining taxable income

1. Amend and supplement point b, clause 3, Article 5 of Circular No. 78/2014/TT-BTC as follows:

“b) For goods and services used for exchange (excluding goods and services used to continue trực tiếp bóng đá euro hôm nay production and business process of trực tiếp bóng đá euro hôm nay enterprise), these are determined according to trực tiếp bóng đá euro hôm nay selling price of similar or equivalent products, goods, services on trực tiếp bóng đá euro hôm nay market at trực tiếp bóng đá euro hôm nay time of exchange.”

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2. Expenses not deductible when determining taxable income include:

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2.9. Allowance for travel expenses for leave not in accordance with trực tiếp bóng đá euro hôm nay Labor Code.

Allowance for employees on a business trip, travel expenses, and lodging expenses for employees on a business trip, if fully supported by invoices and documentation, are deductible expenses when determining taxable income. If a company provides a lump sum for travel expenses, accommodation, and allowance for employees on a business trip and complies with trực tiếp bóng đá euro hôm nay company's financial or internal regulations, these are deductible lump sum expenses.

In cases where a company sends an employee on a business trip (including domestic and international travel), and expenses of 20 million VND or more arise, such as airfare purchased with a personal bank card, these expenses qualify as non-cash payments and are deductible if all conditions are met:

- Appropriate invoices and documentation provided by trực tiếp bóng đá euro hôm nay supplier of trực tiếp bóng đá euro hôm nay goods or services.

- trực tiếp bóng đá euro hôm nay company has a decision or document assigning trực tiếp bóng đá euro hôm nay employee on trực tiếp bóng đá euro hôm nay business trip.

- trực tiếp bóng đá euro hôm nay company’s financial or internal regulations allow trực tiếp bóng đá euro hôm nay employee to settle travel expenses and buy air tickets using a personal bank card, with trực tiếp bóng đá euro hôm nay company reimbursing trực tiếp bóng đá euro hôm nay employee afterward.

If a company purchases airplane tickets through an e-commerce website for an employee's business trip for production and business activities, trực tiếp bóng đá euro hôm nay qualifying documentation for deductible expenses includes e-tickets, boarding passes, and non-cash payment documents of trực tiếp bóng đá euro hôm nay company for trực tiếp bóng đá euro hôm nay participating individual. If trực tiếp bóng đá euro hôm nay company cannot retrieve trực tiếp bóng đá euro hôm nay employee's boarding pass, trực tiếp bóng đá euro hôm nay documentation for deductible expenses includes e-tickets, a decision or document assigning trực tiếp bóng đá euro hôm nay employee on trực tiếp bóng đá euro hôm nay business trip, and non-cash payment documents of trực tiếp bóng đá euro hôm nay company for trực tiếp bóng đá euro hôm nay participating individual.

Thus, travel expenses for employees, if fully supported by invoices and documentation, are deductible expenses when determining taxable income and are deductible when calculating corporate income tax.

How to calculate corporate income tax in Vietnam?

Based on Article 6 of trực tiếp bóng đá euro hôm nayLaw on Corporate Income Tax 2008and Article 5 ofDecree 218/2013/ND-CP, CIT is calculated as follows:

Where:

(1)Taxable income:

Taxable earnings for CIT are determined as follows:

Taxable earnings = Revenue - Deductible expenses + Other income

(2)CIT Tax rate

Based on Articles 10, 13, and 14 of trực tiếp bóng đá euro hôm nayLaw on Corporate Income Tax 2008and Article 10 ofDecree 218/2013/ND-CP, trực tiếp bóng đá euro hôm nay CIT tax rate is 20%.

Note: In certain cases, a higher tax rate applies, such as activities involving trực tiếp bóng đá euro hôm nay extraction of oil, gas, and other precious resources in Vietnam, or preferential tax rates may apply with lower rates.

See detailed CIT tax rates in trực tiếp bóng đá euro hôm nayLuật lịch trực tiếp bóng đá hôm nayếandNghị định 218/2013/NĐ-CP.