Bonus, rewards given to employees in Vietnam
Hi DMS Attorney in Vietnam! Could you advise me about conditions for bonuses, rewards given to employees are considered as deductible expenses for determining corporate taxable income ?
Hi!
Non-deductible expenses for determining taxable income, includes:
Salaries, bonuses, life insurance for employees for which the conditions for entitlement and rates of entitlement are not specified in one of the following documents: labor contract; collective labor agreement; financial regulations of the company, corporation or group; reward regulations issued by the chairman of the Board of Directors, General director or Director under the financial regulations of the company or corporation (Point 2.6.b Clause 2 Article 6 Circular No. 26/VBHN-BTC dated 09/14/2015);
Expenditure on innovation and improvement rewards where enterprises have no specific regulations on such rewards and have no council for test and acceptance of innovations and improvements (Point 2.8 Clause 2 Article 6 Circular No. 26/VBHN-BTC dated 09/14/2015);
Therefore, for bonuses given to employees are deductible when determining taxable income, an enterprise is required to write conditions and rates of entitlement in a document such as: labor contract, collective labor agreement or other internal regulations./.
Related topics:
Corporate Income Tax (CIT) rates in Vietnam
Corporate Income Tax exemption and reduction in Vietnam
Consulting services:
Phone: 0914 165 703 or email: dmslawfirm@gmail.com
Bonus, rewards given to employees in Vietnam
Prepared by: Thi-Ha Nguyen, ACCA | DMS Law firm in Vietnam Director (Signed) Lawyer Do Minh Son |
RELATING ITEMS
Time to issue a VAT invoice for service provision ?
02 Apr, 2022// Group: LAW ON ACCOUNTING AND TAXESLaw office in Danang advise about time to issue a VAT invoice for service provision ?
Is export of goods or provision of services abroad required to issue a VAT invoice ?
02 Apr, 2022// Group: LAW ON ACCOUNTING AND TAXESLawyers in Danang advise about VAT invoice for the export of goods and provision of services abroad ?
Determine the exchange rate for a transaction in a foreign currency ?
02 Apr, 2022// Group: LAW ON ACCOUNTING AND TAXESLawyers in Danang advise about determine the exchange rate for a transaction in a foreign currency ?
Can the profits from real estate transfer be offset with losses from business activities ?
02 Apr, 2022// Group: LAW ON ACCOUNTING AND TAXESLawyers in Danang advise on profits from real estate transfer be offset with losses from business activities ?
Subject to related-party transactions in Vietnam ?
02 Apr, 2022// Group: LAW ON ACCOUNTING AND TAXESLaw office in Danang, Vietnam advise about subject to related-party transactions in Vietnam ?