Trung ương

On 8 August 2019, the Ministry of Finance issued Circular 48/2019/TT-BTC (“Circular 48”) replacing Circular 228/2009/TT-BTC (“Circular 228”), guiding the recognition and settlement of provisions. This Circular takes effect from 10 October 2019, applies for the financial year 2019 & has some notable points as follows:

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Scope & subject of application

The guidance of Circular 48 shall be used as a basis for determining deductible expenses for calculation of Corporate Income Tax (“CIT”). The preparation & presentation of the provisions on the financial statements must still comply with the Law on Accounting.

Regarding provisions for inventory

Remove sầu guidance that allows the company to lớn mix up provisions for work-in-progress of rendering services.

Provision for investment loss

Enterprises are only allowed to lớn make provision for domestic investments, not for overseas investments. In case a provision for foreign investments have been recorded, the enterprise must revert this provision & decrease expenses for financial year 2019. Supplement in more details the regulations to determine residual value of an investment.

Provision for doubtful debts

In case of absence of debt reconciliation, it could be substituted by a request for debt confirmation or a debt collection request, which has been sent by the enterprise (with postmark or confirmation from mailing services suppliers), as a basis for provisions recognition. Supplement regulations that allow enterprises in telecommunication services và retailing business lớn make provision in a shorter time-frame. Supplement cases that can be recognized as irrecoverable debts: (i) where there has been notice of business suspension/dissolution of the debtor, which is confirmed or published on the business registration trang web of licensing or tax authorities; (ii) Receivable debts for which a provision have sầu been made for 01 or 03 years, depending on the business activity, but has not been collected yet. Regarding the handling of irrecoverable debts, enterprises must maintain the dossiers and documents related khổng lồ provisions made.

Provision for warranty

Supplement regulations on recognizing provision for warranty of provided services.


We bởi vì trust the above sầu points are notable và sufficient, but should you have sầu any question or need a deeper discussion on this issue, please bởi vì not hesitate to lớn contact us.


Jean Marc Deschamps Managing Partner - Ho Chi Minh City

+84 (28) 38 24 14 93 Skết thúc a message

Detailed protệp tin


Hai Minh Nguyen Partner - Tax và Business Advisory - Hanoi

+84 (24) 39 36 10 31 Sover a message

Detailed profile


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* Vietnam_​Tax Alert_​Circular 48/2019/TT-BTC
Download pdf 650.21 kB
* Vietnam_​Bản tin Thuế_​Thông 48/2019/TT-BTC giải đáp trích lập và cách xử lý các khoản dự trữ
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