Guidance on Profit Distribution by VCCI

Guidance on Profit Distribution by VCCI
Kim Linh

The realized profits for the year of VCCI are derived from: Profits from business operations, services, and the difference between revenue and expenses of promotion activities, determined based on the total actual revenue for the year and the total actual expenses for the year of promotion activities.

The profits realized in the year of VCCI, after offsetting previous years' losses according to the provisions of the Enterprise Income Tax Law, deducting funds for science and technology development according to lawful regulations, and paying enterprise income tax, the remaining profits shall be distributed as follows:

  1. Compensate the losses of previous years that have expired and can no longer be deducted from the pre-tax profit.

  2. The remaining profits shall be distributed as follows:

- Deduct at least 30% into the Development Investment Fund of VCCI;- Deduct into the VCCI Reward and Welfare Fund: the amount allocated to each Fund shall be decided by the Executive Committee of VCCI, with the total allocation to both Funds not exceeding 3 months' average salary, wages, and other income realized in the year, provided that there are no overdue debts and the ability to pay debts due is 0.5 or higher;- The remaining profits after the deductions as specified in points a and b of this Clause shall continue to be supplemented into the Development Investment Fund of VCCI.

For details, see Circular 133/2015/TT-BTC, effective from October 20, 2015.

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