Non deductible donation expenses
As specified in the Official Letter No 2132/TCT-CS of the General Department of Taxation dated 01 July 2013, donation expenses for supporting public decorative lighting, public billboards and street sound systems shall not be deductible for CIT purpose as they are not related to business activity and generating taxable income.
Under the guidance of the Official Letter No 2250/TCT-CS of the General Department of Taxation dated 15 July 2013, enterprises ceasing its CIT incentive due to Vietnam’s commitment upon WTO accession could still elect to register for tax incentive applicable to investment in specially difficult socio-economic conditions.
No CIT incentives for ship leasing service
Official Letter 2253/TCT-CS of the General Department of Taxation dated 15 July 2013 clarifies that ship leasing activity to foreign parties is considered as service activity rather than public transport development one and hence, no CIT incentive.