1. Personal Income Tax

Business-related expenses

• Expenses related to wages, salaries, and allowances paid to employees.
• Social insurance, health insurance, unemployment insurance, work accident insurance, and occupational disease insurance for employees.
• Training and retraining expenses to improve employees’ professional qualifications.
• Housing rental expenses for employees working at the head office or branch of the enterprise located 50 km or more from the employee’s regular residence.
• Travel, accommodation, and meal expenses during business trips.
• Expenses for the purchase of work clothes and protective equipment.
• Expenses for the repair and maintenance of fixed assets used for work.
• Expenses for the lease of assets used for work.
• Depreciation expenses for fixed assets.
• Interest expenses.
• Accrued expenses.
• Other expenses related to production and business activities as prescribed by law.

Personal expenses

• Life insurance and health insurance expenses for oneself, spouse, and children under 18.
• Education expenses for oneself and children under 18.
• Medical expenses for oneself, spouse, and children under 18.
• Housing expenses.
• Mortgage interest expenses.
• Expenses for donations and sponsorships to charitable and social activities as prescribed by law.

2. Corporate Income Tax

Expenses directly related to production and business activities

• Raw materials and goods expenses: Including the value of raw materials and goods directly used for production and business; packaging costs, transportation costs of raw materials and goods; storage costs for raw materials and goods.
• Expenses for wages, salaries, and allowances for employees: Including wages, salaries,allowances, bonuses, social insurance, health insurance, unemployment insurance, work accident insurance and occupational disease insurance, food, accommodation, and travel allowances for employees.
• Asset rental expenses: Including expenses for renting factories, warehouses, offices, equipment, vehicles, etc. for production and business purposes.
• Depreciation expenses for fixed assets: Including the wear and tear of fixed assets during use.
• Interest expenses: Including the actual interest paid on loans used for production and business activities.
• Accrued expenses: Including provisions for bad debts, warranty provisions, severance pay provisions, etc.
• Expenses for services related to production and business activities: Including expenses for repair and maintenance of fixed assets; electricity, water, and telecommunications costs; advertising and marketing costs; research and development costs; training and retraining costs to improve employees’ professional qualifications; etc.

Other deductible expenses for CIT calculation

• Expenses for donations and sponsorships to charitable and social activities as prescribed by law.
• Life insurance and health insurance expenses for oneself, spouse, and children under 18.
• Education expenses for oneself and children under 18.
• Medical expenses for oneself, spouse, and children under 18.
• Housing expenses.
• Mortgage interest expenses.

3. Notes

This list only includes common expenses. For the most complete and accurate information, you should:

• Refer to the current tax laws.
• Look up information from the competent tax authority.
• Contact reputable tax consulting firms.

The conditions for deducting each type of expense may vary, so you should carefully consider the legal provisions.

4. Contact Information

TPM TAX AGENCY & CONSULTING CORPORATION  is a reputable tax consulting company with many years of experience in the field of corporate tax. We provide professional, fast, and accurate services to help you save time and effort.

• Website: https://tpm.com.vn/ 
• Hotline: (+84) 28 3505 1800 
• Email: info@tpm.com.vn

Contact us today for a free consultation on our tax consulting services!