EY Consulting VN shares insights on Corporation income tax amid COVID-19 

15 April 2020, EY Consulting Vietnam Join Stock Company (EY Consulting VN) produced a webinar on Corporation income tax (CIT) amid COVID-19 crisis. Hundreds of participants joined the discussion.

Responding to enterprises’ interest in the Government’s policy on tax payment extension as a relief valve for pressures caused by the pandemic, experts from EY Consulting VN expounded on the important points of the Government’s Decree 41/2020/ND-CP on Tax and Land Deferral (Decree 41). The experts also addressed several questions concerning the Decree 41, namely, taxes to be subject to the policy, beneficiaries, deadlines as well as application procedures of the tax payment extension.

EY Consulting VN’s speakers also informed the enterprises of remarkable proposals under the draft revision of the Decree 20/2017/ND-CP prescribing tax administration for enterprises engaged transfer pricing (Decree 20). Particularly, the experts highlighted the latest Government’ considerations regarding the limit of the related-party deductible loan interest such as the limit percentage, subjects of application and retrospective application in 2017 – 2018 period.

The experts greatly focused on analysing and answering issues concerning CIT finalization. Central to the participants’ interest were explanations on how to identify time of revenue recognition, expenses eligible for CIT deduction and especially, the taxation management against the impact of COVID-19.

CIT is the first topic discussed within the taxation webinar series produced by EY Consulting VN from 15 April to 18 May 2020. The next webcasts are scheduled to focus on: Personal income tax, Transfer pricing and Custom.