Exercise 1

An enterprise in the year of CIT calculation, the following documents are

available (in monetary unit: million dong):
1. Sales of products: 50,000, of which sales of goods are 20,000 VND
2. Expenses declared by enterprises to determine taxable income: 45,500. In
which:
+ Expenditure on construction of cafeteria in the middle of shifts in the
enterprise: 500
+ Interest payment on loans for production and business: 7,200, of which
interest is paid on commercial bank loans: 6,000, the rest is paid to employees in the
enterprise, the interest rate is 10%/year.
+ Loss on exchange rate differences due to revaluation of receivables
denominated in foreign currencies at the end of the financial year: 400
+ Funding for equipment for Bach Mai hospital: 200
+ Cost of phone and stationery: 600
The remaining expenses are deductible when determining corporate income.
3. Other incomes:
+ Gains from sale of assets 250. Remaining value of assets 145. Expenses
related to sale 5.
+ Income from domestic joint venture activities (paid CIT at the place of capital
contribution): 200.
+ Interest on deposit in a current account at a bank: 140.
Requirements: Calculating CIT payable in the year. Know that:
- Enterprises apply the standard CIT rate.
- The enterprise has fully contributed its charter capital.
- The basic interest rate announced by the State Bank of Vietnam at the time of
borrowing is 6%/year.
- Expenditures of enterprises with legal invoices and documents and non-cash
payments.
 Exercise 2
An enterprise in the year of CIT calculation, the following documents are
available (in monetary unit: million dong):
1. Sales of products: 10,000
2. Expenses declared by enterprises when determining corporate income:
8,000. In which:
+ Depreciation of fixed assets that have expired: 200 VND
+ Scientific research cost: 400
+ Internal medical expenses: 50
+ Expenses for security and defense as prescribed by law: 60
+ Fixed asset rental fee: 400 (paid 1 time in advance for 2 years)
+ Payment of interest on loans for production and business 600, loans from
commercial banks at an interest rate of 10%/year.
+ Expenses to build houses of gratitude for the poor in accordance with
regulations of the Ministry of Labor, War Invalids and Social Affairs: 150
+ Paying fines for tax violations: 20
+ Personal income tax (according to the salary contract including personal
nghĩa là tiền lương gross
income tax): 100
The remaining expenses are deductible when determining corporate income.
3. Other incomes:
+ Income on property rental: 100
+ Earning from interest on deposit in a current account at a bank: 20
+ Sponsored by the State budget for scientific research activities: 100
4. Income from offshore investment activities: 1,200. This is the income
received after paying tax abroad at the tax rate of 18%.
Requirements: Calculating CIT payable in the year. Know that:
- CIT rate of 20%.
- Lack of charter capital according to the capital contribution schedule: 500
- Expenditures of enterprises with legal invoices and documents and non-cash
payments in accordance with the provisions of law.
- Enterprises do not set up funds for science and technology development.
 Exercise 3 chưa chữa
An enterprise producing consumer products in the year of CIT calculation, the
following documents are available (in monetary unit: million dong):
1. Product sales: 12,000
2. Deductible expenses declared by enterprises: 9,000. In which:
+ Depreciation of fixed assets of the garage invested and built by the enterprise
is deducted according to the prescribed regime: 50
+ Salary to be spent: 2,000, by the end of the time limit for submission of tax
finalization dossiers, the actual expenditure is 1,800.
+ Paying for clothes allownace in cash: 200
+ Financing for the construction of facilities for the Academy of Finance: 850
yen
+ Expenses for advertising, marketing, meetings and receptions declared by
enterprises: 1,000
The remaining expenses are deductible when determining corporate income.
3. Other incomes:
+ Income from a contract for harvesting agricultural products 100. This is the
second year of income.
+ Income from domestic joint venture 1,000. This is the income received after
paying tax at the capital contribution unit with the tax rate of 10%.
+ Asset lease 120, depreciation, maintenance and asset maintenance costs 30.
Requirements: Calculating CIT payable in the year. Know that:
- CIT rate applicable to this enterprise: 20%.
- Expenditures of enterprises with legal invoices and documents and non-cash
payments.
- The enterprise has 150 employees.
- The enterprise does not set up a reserve fund to supplement the salary fund of
the following year.
- The company has been established and operating for 10 years.