Expenditures for supporting mobile lottery ticket vendors in Vietnam eligible for deduction of Corporate Income Tax

01:44, 10/07/2024

Recently, the Ministry of Finance issued Circular 83/2020/TT-BTC to provide guidance on Section 3, Article 7 of Decision 15/2020/QD-TTg dated April 24, 2020, by the Prime Minister of the Government of Vietnam, stipulating the implementation of policies to support people facing difficulties due to the Covid-19 pandemic in Vietnam.

According to Article 3 of Circular 83/2020/TT-BTC, the expenditures for supporting mobile lottery ticket vendors in Vietnam eligible for deduction of Corporate Income Tax are regulated as follows:

- Expenditures incurred by the Lottery Company to support mobile lottery retailers that meet all conditions specified in Clause 1, Article 7 of Decision 15/2020/QD-TTg are considered deductible expenditures when determining the taxable corporate income of the Lottery Company if they are provided to the correct beneficiaries and sufficient documentation of the support is available as prescribed in Circular 83/2020/TT-BTC.

- Forms of support disbursement:

- Through agencies or organizations authorized by law to mobilize support or assigned by the provincial People's Committee; or

- The Lottery Company directly supports mobile lottery retailers.

- The support period and maximum support amount for mobile lottery retailers deductible when determining taxable corporate income in the year 2020 will be implemented according to the regulations in Point 4, Section II of Resolution 42/NQ-CP.

More details can be found in Circular 83/2020/TT-BTC, which comes into force in Vietnam from November 06, 2020.

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