Vietnam – Sponsorship For Cost Of Master’s Degree Program for Employees Shall Be Regarded As Tax Deductible Expenses For CIT Purpose.

21 August, 2016

 

Official Letter No. 46804/CT-HTr dated 13th July 2016 issued by Tax Department of Hanoi responded to the tax policy on cost for Master’s Degree program for employees.

 

Accordingly, in the event a Company sponsors for the cost of Master’s Degree program for employees, this expense shall be regarded as tax deductible expenses for CIT purposes. For proper recording of this legitimate expense, the Company should file the payment receipt of tuition fee if the tuition fee collection belongs to State Budget or file the invoice as prescribed in law if that tuition fee does not belong to State Budget.