On January 15th, 2020, Hanoi Tax Department issued Official Letter No. 1971/CT-TTHT. Whereby:
In case the Company purchases real estate for resale (land and housing use rights), by the end of the year, if the value of this property decreased compared to the original purchase price, it is not qualified to set upprovision as prescribed in Clause 1, Article 1 of Circular No. 48/2019/TT-BTC dated September 8th, 2019. Therefore, the Company is not allowed to make provision for this property to be counted as deductible expenses when determining CIT taxable income.
