NEWSLETTER OCTOBER 2024
Corporate Income Tax (“CIT”) Deductible expenses in the event of natural disasters On 16 October 2024, Hai Duong Tax Department issued Official Letter No. 8763/CTHDU-TTHT as follows: – In case a company incurs losses of materials due to the impact of natural disasters, the company must prepare complete, timely and accurate accounting documents in accordance with the provisions of Article 18 of the Accounting Law No. 88/2015/QH13. The expenses related to the value of losses due to natural disasters, which are not compensated, will be included as deductible expenses when determining taxable income for CIT if they meet the conditions specified...