Official Letter No. 655/TCT-CS dated February 14, 2025, of the General Department of Taxation regarding deductible depreciation expenses of fixed assets in determining corporate income tax obligations
The General Department of Taxation agrees with the proposal of the Hanoi Tax Department: In cases where fixed assets lack documentation proving the enterprise’s ownership (i.e., the enterprise has not been issued a Land Use Rights Certificate or a Certificate of Ownership for assets attached to the land) as required by law, such assets do not meet the conditions for depreciation deduction as an expense when determining taxable corporate income.
