Corporate income tax is a tax levied on businesses and economic organizations. So how is corporate income tax calculated ? See the following article for detailed instructions.Table of Contents Hide
1. Basis for calculating corporate income tax
Latest corporate income tax rates
Income subject to corporate income tax
Taxable revenue
Deductible expenses
Income exempt from corporate income tax
Losses carried forward from previous year
2. How is corporate income tax calculated?
Corporate income tax calculation formula
Specific corporate income tax calculation exercises
3. How to declare a reduction in corporate income tax payable
4. Answering questions
1. Basis for calculating corporate income tax
Latest corporate income tax rates
Corporate income tax rates range from 20% – 50%. Specifically
Tax rate of 20%: Generally applied to france telegram data enterprises with total annual revenue (total revenue from sales of goods and provision of services) not exceeding 20 billion VND, except for cases eligible for preferential tax rates and enterprises subject to tax rates of 32%-50% (Based on Clause 6, Article 1 of
the Law on Corporate Income Tax amended in 2013)
Tax rate 32%-50%: Enterprises and economic should the prospect call place an order organizations engaged in exploration, exploitation and processing of minerals bulk data and rare resources in Vietnam (Based on Clause 3, Article 10, Decree 218/2013/ND-CP). In which:
The Prime Minister decides on appropriate tax rates: For prospecting and exploration activities, based on the location, exploitation conditions and mine reserves for each project and each business establishment proposed by the Minister of Finance.
Tax rate is 50%: Applies to mines of platinum, gold, silver, tin, tungsten, antimony, precious stones, and rare earth resources.
Tax rate 25%-50%: Enterprises with oil and gas activities (Based on Clause 3, Article 10 of the Law on Corporate Income Tax. In addition, preferential policies are also stipulated in Article 54 of the 2022 Law on Petroleum as follows:
1. Preferential policies applied to oil and gas blocks and fields are implemented through oil and gas contracts.
2. Petroleum contracts for oil and gas blocks and fields that enjoy investment incentives are subject to a corporate income tax rate of 32%, a crude oil export tax rate of 10%, and a maximum cost recovery
rate of 70% of the oil and gas output exploited in the year.
3. Petroleum contracts for oil and gas blocks and fields that enjoy special investment incentives are subject to a corporate income tax rate of 25%, a crude oil export tax rate of 5%, and a maximum cost recovery rate of 80% of the oil and gas output exploited in the year.
Income subject to corporate income tax
Incomes subject to corporate income tax based on the provisions of the 2013 amended Corporate Income Law and additional regulations in 2014 include:
Income arising from business activities, production of goods and services