Question
A textile company located in Long Bien District and applies calendar tax year, has 40 employees, had following information for the tax year 2020 (Unit:
A textile company located in Long Bien District and applies calendar tax year, has 40 employees, had following information for the tax year 2020 (Unit: million VND):
1. Turnover:300.000
2. Expenses:250.000.Inwhich:
- Depreciation: 300
- Materials expenses:10.000, in which, the cost of damaged materials caused by natural disasters 200
- Uniform expenses: 220
- Remuneration paid to the founding members of companies: 60
- Donation to Youth union of Long Bien district: 70
- Donation for housing to the poor: 100
- Expenses without legitimate invoices: 30
- Expenses of golf fees for the Director of the company: 100
- PIT paid: 90
- Other expenditures are deductible
3. Other income:
- Income from a joint venture in Vietnam: 100
- Net income from an asset liquidation: 40
- Overseas income: 800
Requirement 1: Which information need to be clearified in order to calculate the amount of CIT payable of the company and explain why?
Requirement 2: Give additional necessary information and calculate the minimum amount of CIT payable of the company?
Requirement 3: What is the deadline of CIT payment for the tax year 2020?
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