Official Letter No. 27613/CTBDU-TTHT dated October 21, 2024, from Binh Duong Tax Department provides guidance on the declaration of VAT and CIT for tax assessments issued by the Customs Authority
In the event the Company incurs taxes payable according to the Customs Authority’s tax assessment decision, excluding cases where the Customs Authority imposes penalties for tax evasion or fraud, the following applies:
Regarding VAT: The Company is entitled to declare and fully deduct input VAT paid according to the Customs Authority’s tax assessment decision, provided that the conditions for VAT deduction as stipulated in Clause 10, Article 1 of Circular 26/2015/TT-BTC are met.
Regarding CIT: The Company is allowed to account the import duties paid under the Customs Authority’s tax assessment decision as deductible expenses when determining taxable income for CIT purposes, provided it complies with the provisions of Article 4, Circular 96/2015/TT-BTC issued by the Ministry of Finance.
