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OFFICIAL LETTER NO. 206/CTHNA-TTHT OF THE HA NAM TAX DEPARTMENT ON 2024 CORPORATE INCOME TAX (CIT) FINALIZATION

On 24 January 2025, the Ha Nam Tax Department issued Official Letter No. 206/CTHNA-TTHT regarding 2024 Corporate Income Tax (CIT) finalization with key considerations for enterprises

Key considerations for filing the Corporate Income Tax (CIT) settlement for the 2024 tax period:

1. Regarding CIT filing, businesses are responsible for determining and accurately declaring all information on the Corporate Income Tax Settlement Declaration Form (Form No. 03/TNDN) and its accompanying annexes. Special attention should be given to certain items on the Form No. 03/TNDN as follows:

  • Item [G1], [G3]: The taxpayer must declare the excess CIT from the previous period that is carried forward to offset the CIT payable for the current period;
  • Items [G2], [G4], [G5]: The taxpayer must declare the provisional CIT paid during the year, which refers to the CIT paid for the 2024 tax period;
  • Items [E], [G]: The taxpayer should not declare the CIT payable or the provisional CIT paid for activities that are eligible for other preferential treatments already declared separately.

2. Regarding the declaration of related-party transactions, businesses must identify and declare information on related-party transactions. Specifically, businesses should carefully determine the entities that must be declared, ensure proper control, and fully declare related-party transaction information. Additionally, they must accurately determine the deductible interest expenses (subject to the 30% limit) when calculating CIT, in accordance with the provisions of Decree No. 132/2020/ND-CP, to minimize errors.

  • In cases where the taxpayer has related-party transactions falling within the scope of Decree No. 132/2020/ND-CP, they are required to declare information about the related-party relationships and transactions according to Appendix I (*), Appendix II, and Appendix III of Decree No. 132/2020/ND-CP, and submit these along with the Corporate Income Tax (CIT) settlement declaration (as specified in Clause 3, Article 18 of Decree No. 132/2020/ND-CP).
  • In cases where the taxpayer (NNT) is obligated to submit a Country-by-Country (CbC) report, they must prepare the CbC report as part of the related-party transaction pricing documentation, following Appendix IV attached to Decree No. 132/2020/ND-CP, and submit it to the tax authority in accordance with Clause 5, Article 18 of Decree No. 132/2020/ND-CP.
  • Cases in which taxpayers are exempt from declaring or preparing the related-party transaction pricing documentation are specified in Article 19 of Decree No. 132/2020/ND-CP…

(*) Update: Decree No. 20/2025/ND-CP replaces Appendix I – Information on Related-Party Relationships and Transactions attached to Decree No. 132/2020/ND-CP with Appendix I – Information on Related-Party Relationships and Transactions attached to this Decree.