This document of the Ministry of Finance aims to amend certain points in Circular No. 129/2003/TT-BTC guiding the Law on Corporate Income Tax, specifically regarding the calculation method for business operating profit and conditions for setting up bonus funds for lottery companies.
要点
- Enterprises shall calculate business operating profit as the difference between total revenue minus the full cost of products sold and taxes prescribed by law (excluding corporate income tax) - Article 2.1
- Lottery Companies shall be allowed to add an additional amount not exceeding one month's salary into each bonus fund and welfare fund if they strive to increase their annual profit compared to the previous year - Article 3.5
🌐 本文件的社会影响
- Enterprises are accurately guided on how to calculate business operating profit, avoiding errors in tax declaration.
- Lottery Companies have a clearer mechanism for setting up bonus funds and welfare funds when achieving the goal of increasing profits.
❓ 常见问题
How should enterprises calculate business operating profit?
Business operating profit is the difference between total revenue minus the full cost of products sold and taxes prescribed by law (excluding corporate income tax).
What additional amount can Lottery Companies set aside for bonus funds and welfare funds?
If they strive to increase their annual profit compared to the previous year, Lottery Companies may add an additional amount not exceeding one month's salary into each bonus fund and welfare fund.
全文
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MINISTRY OF FINANCE |
SOCIALIST REPUBLIC OF VIET NAM |
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No.: 13688/TC-VP |
Hanoi, December 26, 2003 |
OFFICIAL LETTER
OF THE MINISTRY OF FINANCE NO. 13688 TC-VP DATED DECEMBER 26, 2003
REGARDING CORRECTION OF CIRCULAR No. 129/2003/TT-BTC
Dated December 23, 2003 issued by the Ministry of Finance
To: The Gazette (Office of the Government)
The Ministry of Finance has promulgated Circular No. 129/2003/TT-BTC dated December 23, 2003 guiding the implementation of Decree No. 164/2003/NĐ-CP dated December 22, 2003 issued by the Government, detailing and providing guidance on the Law on Corporate Income Tax; due to oversight at certain points, the Ministry of Finance requests correction as follows:
- At point 2.1 item 2, it is specified: “Business profit is the difference between total revenue minus the full cost of products sold” which is now amended to read: “Business profit is the difference between total revenue minus the full cost of products consumed and taxes prescribed by law (excluding corporate income tax)”.
- At sub-item c point 3.5 item 3, it is specified: “In cases where Lottery Companies strive to increase their annual profits from one year to the next, they may add up to an additional month’s salary into each bonus and welfare fund”, which is now amended to read: “In cases where Lottery Companies strive to increase their annual profits from one year to the next, they may add up to an additional month’s actual salary performed into each bonus and welfare fund”.
The Ministry of Finance requests correction for the Gazette to publish according to regulations.
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Dinh Van Nha (Signed) |
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