On February 10th, 2020, Hanoi Tax Department issued Official Letter No. 4851/CT-TTHT. Whereby:
Expenses for buying voluntary pension insurance, life insurance, medical insurance, accident insurance, health insurance and other voluntary insurance for employees, if meeting the prescribed conditions and spending levels stated in Article 4 of Circular No. 96/2015/TT-BTC dated June 22nd, 2015, Clause 3 Article 3 of Circular No. 25/2018/TT-BTC dated March 16th, 2018 of Ministry of Finance and not violating current legal regulations, these expenses shall be included in deductible expenses when determining CIT taxable income.
In case the Company incurred liability insurance expense for members of the Board of Directors, if this expense is not related to production and business activities and does not meet the conditions as prescribed in Article 4 of Circular 96/2015/TT-BTC, it is not included in deductible expenses when determining CIT taxable income.
