Corporate Income Tax 2014: Expenses are paid by cash
17/01/2014 - 04:39
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Corporate Income Tax 2014: Expenses are paid by cash
According to regulation of Corporate Income Tax amended in 2013 and Decree 218/2013/N-CP, enterprises must pay by cash with the following expenses:
- Invoice for purchases and services valued at less than 20 million
- Payments for purchase and sales of goods and services made as prescribed list.
- Payments for the implementation of the national defense and security; support for the service of the Party organizations…
With the remaining expenses, enterprises are forced to make payments using methods of non-cash; otherwise these expenses are not listed in the reasonable cost.
These regulations will take effect on February 15, 2014 and be applied in the tax period from 2014 onwards; the Ministry of Finance will have specific guidelines on these regulations.