Exercise 1
Enterprise A in the current tax year has the following activities (unit: million dong):
0. Revenue from sales of goods: 20,000, including the value of returned goods of 2,000.
b. Expenses declared by the enterprise for tax purpose are 16,000 (with legitimate invoices
and documents). Including:
● Depreciation expense of a 7-seat car (with the primary price of 2.4 billion VND, used
by the Director. The car is depreciated using straight-line method within the period of
8 years): 300.
● Expense for building medical facilities for employees: 100.
● Salary and wages (according to labor contracts): 2,000; in which 400 is the
remuneration of members of Board of Directors (not directly involved in directing
production and business).
● Efficiency bonuses for employees: 50
● Personal income tax payable: 150; VAT payable according to credit-invoice method:
250.
● Other expenses are deductible.
c. Other incomes:
● Income from domestic contribution of equity capital to company B; enterprise A
receives its share of income before company B pays CIT: 200.
● Income from selling a machine with the price of 300, the remaining value of the
machine is 20, the transfer expense is 2.
Calculate the CIT payable for the tax year. Given:
● The enterprise has sold the returned goods with the selling price of 1,500; the amount
received is not accounted in revenue.
● The enterprise pays VAT using the credit-invoice method.
● The efficiency bonuses are not prescribed in labour contracts, finance regulations or
rewards regulations of the enterprise.
● The CIT rate is according to current regulations on CIT.
Giải
a. Turnover = 19,500 million VND
Revenue from sales of goods: 20,000, including the value of returned goods of 2,000.
🡺 Turnover = 20,000 – 2,000 + 1,500 = 19,500
b. Total deductible expenses = 16,000 – 1,050 = 14,950 million VND
Unit: million VND
Deductible Non-deductible Notes
1. Depreciation 1.6 / 8 = 0.2 billion 300 – 200 = 100 -The proportion
VND = 200 million beyond 1.6 billion
VND VND must not be
deducted.
2. Building medical 100 - fixed assets used for
center many years (cái được
trừ chỉ là khấu hao
thôi, kp ng giá)
3. Salary & Wages 1,600 400 - Remuneration paid
to founding members,
members of the
Members’ Council or
Board of Directors
who are not directly
involved in directing
production and
business 🡺 Non-
deductible
4. Bonus 50 - Bonus not specified
in labor contract or
other documents 🡺
Non-deductible
5. Taxes 250 + 150 = 400 - Personal income tax
payables 🡺 Non –
deductible
- Vat payable of
business entities that
submit VAT by
credit-invoice method
🡺 Non – deductible
Total 1,050
c. Total Other incomes = 200 + 278 = 478 million VND
- Income from domestic contribution of equity capital to company B; enterprise A receives its
share of income before company B pays CIT: 200.
🡺Other income = 200
- Income from selling a machine with the price of 300, the remaining value of the machine is 20,
the transfer expense is 2.
🡺 Other income = Sales – Remaining value – Transfer expenses = 300 – 20 – 2 = 278
d. Calculation
1. Turnover = 19,500
Total N-D expenses = 1,050
2. Total deductible expenses = 16,000 – 1,050 = 14,950
3. Other income = 478
4. Taxable income = Turnover – Deductible expenses + Other incomes
= 19,500 – 14,950 + 478 = 5,028 million VND
5. Exempt incomes = 0
6. Losses = 0
7. Taxed income = Taxable income – Tax-exempted income – Losses carried forward
= 5,028 – 0 – 0 = 5,028 million VND
8. CIT payable = Taxed income * CIT rate = 5,028 * 17% = 855 million VND
9. Overseas income = 0
Exercise 2
Enterprise X in the current tax period has the following activities (unit: million VND)
0. Revenue from sales of goods: 25,000; including revenue from sales of Excise-taxable
goods of 3,000.
a. Expenses declared by the enterprise for tax purposes are 20,000 (with legitimate invoices
and documents). Including:
● Depreciation expenses according to current regulations: 800, in which 50 is the
depreciation expense of an operating lease asset and 100 is the depreciation expense
of a lease-purchase asset.
● Expense for buying life insurance contracts for employees (not specified in labour
contracts): 100
● Rewards for innovation ideas: 200
● Efficiency bonuses for employees: 50
● Work outfits expense in cash: 300
● Interest expense for a loan from corporation B: 250; the interest rate written on the
loan contract is 20%.
● Funding for buying study equipments for Kim Lien elementary: 50.
● Other expenses are deductible.
c. Other incomes:
● Income from providing harvesting service: 120.
● Income from a science research contract (this is the 4 year the enterprise receives
th
income from this contract): 150
● Income from domestic contribution of equity capital to company B; enterprise X
receives its share of income after company B pays CIT: 300.
Calculate the CIT payable of the enterprise in the tax year. Given:
● The enterprise has not organized a council to test and accept innovations and
improvements.
● The efficiency bonus is not specified in the labour contracts.
● The prime interest rate announced by the State Bank of Vietnam at the time of the loan
contract: 12%; the enterprise has fully contributed its charter capital.
● The number of employees in the enterprise: 50.
● The CIT rate is according to current regulation. The excise tax rate of excise taxable
goods is 50%. The enterprise did not receive any tax exemption or reduction in the tax
year.
Giải
1. Revenue = 25,000
2. Deductible expense = 20,000 – 450 = 19,550
Expense Deductible Non-deductible
[Link] 800 – 50 = 750 50 (operational lease)
[Link] insurance 100 (not in contract)
[Link] 200 (no council for test and
acceptance)
[Link] 50 (not in contract)
[Link] outfit 5*50 = 250 50
[Link] 250 (economic organizations,
là pháp nhân thì là tổ chức
kinh tế)
7. Funding 50 (right persons and right
purposes)
Total 450
3. Other incomes
+ Harvesting service : 120
⇨ Exempt
+ Science research contract : 150
⇨ Taxable (miễn thuế tối đa 3 năm)
+ Domestic equity contribution : 300
⇨ Exempt (after CIT)
4. Calculation
Other income phải cộng cả exempt income vào r trừ đi sau
Lí do là vì nếu không cộng vào thì khi tính thuế tự nhiên doanh nghiệp được khấu trừ đi 1 khoản,
mà ở đây là được miễn thuế từ đầu nên k được khấu trừ.
- Taxable income = Revenue – D.e + O.I = 25,000 – 19,550 + 150 + 120 + 300 = 6,020
- Exempt income = 120 + 300 = 420
- Losses = 0
- Taxed income = 25,000 – 19,550 + 150 + 120 + 300 – (120 + 300) = 5,600
- CITp = 5,600 * 20% = 1,120
Exercise 3
AN PHAT Corporation in the current tax period has the following activities (unit: million VND)
0. Revenue from sales of goods: 50,000; including revenue from sales of Excise-taxable
goods of 2,000.
a. Expenses declared by the enterprise for tax purposes are 20,000 (with legitimate invoices
and documents, and do not include the excise tax payable). Including:
● Depreciation expenses according to current regulations: 500, in which 50 is the
depreciation expense of a machine which has been fully depreciated but still used for
production
● Material expenses according to production norm (VAT-inclusive): 3,300.
● Research and development expense: 300.
● Medical expenses for employees: 50.
● Expense of renting a fixed asset: 400 (prepaid for 2 years)
● Funding for building houses for the poor: 160
● Donations for local women association: 10
● Other expenses are deductible.
c. Other incomes:
● Income from leasing fixed asset: 200.
● Income from international investments: 1,200. This is the income after paying
corporate income tax in the foreign country with the tax rate of 40%.
Calculate the CIT payable of the enterprise in the tax year. Given:
● The company pay VAT using the credit-invoice method.
● The company does not have a science research and technology development fund; 1/3 of
the research and development expense is funded by the Government.
● Vietnam and the foreign country have not yet signed a tax treaties to avoid double
taxation.
● The CIT rate is according to current regulation. The excise tax rate of excise taxable
goods is 25%. The enterprise did not receive any tax exemption or reduction in the tax
year.
Giải
1. Revenue = 50,000
2. Deductible expenses = 20,000 – 660 + 400 = 19,740
Expense Deductible expense Non-deductible expense
1. Excise tax [2,000 / (1+ 25%)] * 25% =
400
2. Depreciation 450 50
3. Material expenses 3,000 300
4. R&D 200 1/3 * 300 = 100
5. Medical expenses 50
6. Renting fixed asset 400/2 = 200 200
7. Building houses for poor 160
8. Donations for local woman 10
association
Total 660
3. Other income
- Leasing fixed asset : 200 – taxable
🡺Total other income = 200
4. Calculation
Taxable income = Revenue – Deductible expense + other income = 30,000 – 19,740 + 200 =
10,460
CIT payable = Taxed income * 20% = 10,460 * 20% = 2,092
CIT payable for foreign income
- Income before tax = 1,200 / (1-40%) = 2,000
- CIT according to VN law = 2,000 * 20% = 400
- CIT paid overseas = 2,000 * 40% = 800
- CIT in VN = 0 (tính theo số thuế ở VN, k âm)
*Lưu ý
CITp = Taxed income * 20%
CITp = (Taxed income – R&D Fund) * 20%
R&D expense : 300 (1/3
sponsored
Having R&D fund 300 – N - D
No R&D fund DE: 200 ; N-D: 100
Exercise 4
HOANG HA Corporation in the current tax period has the following activities (unit: million
VND)
0. Revenue from sales of goods: 50,000
a. Expenses declared by the enterprise for tax purpose are 40,000 (with legitimate invoices
and documents). Including:
● Salary and wages (according to labor contracts): 5,000; in which 400 is the
remuneration of members of Board of Directors (not directly involved in directing
production and business).
● Research and development expense: 300
● Protective clothes expense: 100.
● Funding for building a medical center for the poor: 120.
● Fines for late tax payment: 20; fines for breaking business contracts: 50.
● Advertising expenses: 750, in which 50 is expense of market research.
● Other expenses are deductible.
c. Other incomes:
● Income from harvesting service: 50.
● Income from business contract breach: 20.
● Income from international investments: 800. This is the income after paying
corporate income tax in the foreign country with the tax rate of 20%.
Calculate the CIT payable of the enterprise in the tax year. Given:
● The company pay VAT using the credit-invoice method.
● The company does not have a science research and technology development fund; 1/3 of
the research and development expense is funded by the Government.
● Vietnam and the foreign country have not yet signed a tax treaties to avoid double
taxation.
● The research and development expense is taken from the research and development fund
of the company.
● The CIT rate is according to current regulation. The enterprise did not receive any tax
exemption or reduction in the tax year.
Giải
1. Revenue = 50,000
2. Total deductible expense = 40 000 – 570 = 39 430
Expense Deductible Non – deductible
1. Salary 5,000 – 400 = 4,600 400 (not directly involved in
directing production and
business)
2. R&D 200 300 * 1/3 = 100 (1/3 of the
research and development
expense is funded by the
Government)
3. Protective clothes 100
4. Funding for building 120
medical
5. Fines for late tax payment 20
6. Breaking business contract 50
7. Advertising expenses 750
Total 5770 570
3. Other incomes:
● Income from harvesting service: 50 🡺 Exempt
● Income from business contract breach: 20 🡺 O.I = 20 – 50 = -30
● Income from international investments: 800. This is the income after paying
corporate income tax in the foreign country with the tax rate of 20%.
4. Calculation
- Taxable income = Revenue – D.e + O.I = 50 000 – 39 430 – 30 + 50 = 10 590
- Exempt income = 50
- Losses = 0
- Taxed income = 10 590 – 50 – 0 = 10 540
- CITp = 10 540 * 20% = 2 108
- CIT payable for foreign income
- Income before tax = 800 / (1-20%) = 1 000
- CIT according to VN law = 1 000 * 20% = 200
- CIT paid overseas = 1000 * 20% = 200
- CIT in VN = 0
Exercise 5
Enterprise D in the current tax period has the following activities (unit: million VND):
1. The CIT payable determined by the enterprise: 2,000
2. In the list of expenses declared by the company, there are some following expenses:
● Depreciation expense of the cafeteria serving employees (according to regulations):
100. => Deductible
● Expense of buying a fixed asset: 1,000 (the depreciation expense of the fixed asset
has been accounted in the total depreciation expense of that year). => N-D
● Expense for contribute charter capital of a private high school: 1,000. => N-D
● Expense for funding building a hospital in Muong Nhi province: 2,000 =>
Deductible
● Fines for non-compliance with the law: 20 => N-D
● Expense for buying life insurance for employees: 100 => N-D
● Other expenses are deductible
0. The exempt incomes declared by the company include:
● Income from agricultural harvesting service: 50
● Income from the sale of products turned out from production with technology applied
for the first time in Vietnam: 200. This is the 6 year the enterprise receive this
th
income.
● Income from domestic contribution of equity capital to company A; enterprise X
receives its share of income before company A pays CIT: 300.
Calculate the CIT payable of the enterprise in the tax year. Given:
● The CIT rate is according to current regulation. The enterprise did not receive any
tax exemption or reduction in the tax year.
● The life insurance is not specified in the labor contract.
● All the expenses are with legitimate invoices and documents.
Giải
1. Taxed income = 2,000/20% = 10,000
2. Adjustments
- Taxable income = Revenue – D.E + O.I
- Taxed income = Taxable income – Exempt income – Losses
Items Adjustments
1. Depreciation 0
2. Fixed assets + 1000
3. Chartered capital + 1000
4. Build hospital 0
5. Fines – tax + 20
6. Life insurance + 100
7. Income from agriculture 0 (exempt income)
8. Technology + 200 (taxable income – 6th year)
9. Capital contribution + 300 (taxable income)
Total + 2620
3. Adjusted taxed income = 10,000 + 2,620 = 12, 620
4. CITp = 12,620 * 20% = 2,524