Nguyen Van Chi, Director of the Tax Policy Department under the General Department of Taxation, granted the Đầu Tư (Investment) Newspaper an interview on the impact of new tax policies which take effect this month.As regulated in Government Decree No. 91/2014/ND-CP of October 1, 2014, and Finance Ministry Circular No. 151/2014/TT-BTC of October 10, 2014, enterprises may now account welfare expenses into deductible costs. How will be this implemented when such expenses are not listed in the Circular?From November 15, 2014, staff welfare expenses will be accounted into deductible costs when calculating corporate income tax. These include expenses for funerals and weddings of employees or their families; vacations; medical treatment; support for families of employees affected by natural disasters, sicknesses or accidents; reward for children of employees with outstanding performance at school, etc.When making the Circular, it was impossible to list all expenses of welfare nature as they are numerous ranging from gifts for employees’ children on the International Children’s Day and Mid-autumn Festival to bonus for female employees on the International Women’s Day and so on.
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| Hanoi Tax Department assists taxpayers in tax procedures__Photo: VNA |
