Corporate income Tax Assignment

Lecturer: Kien Tran Trung, PhD

Taxation - School of Public Finance, UEH

Assignment 1:
In 2019, the main business transactions of Tung Lam Co.Ltd can be summarized as follows:
- Turnover is 20.000 million VND.
- Cost of goods sold: 8.000 million VND.
- Selling cost is 2.500 million VND. This cost includes: commissions without legal document is 300
million VND, and the cost of receiving guests without legal invoice is 200 million VND.
- Administrative cost is 4.200 million VND. This cost includes: salaries and bonuses that are not reflected
in the labor contract are 200 million VND; violations of tax laws are 500 million VND
- Other incomes: 600 million VND including dividends from profit after tax of 100 million VND.
- In the tax period, the company paid 1.200 million VND of corporate income tax in 2019.
- According to the financial report, company ABC still has not transferred the loss of 500 million VND
of year 2018.
With the given information, please calculate Corporate income tax (CIT) of this company (CIT
rate is 20%).

Assignment 2:
In 2019, the main business transactions of Enterprise An Tai can be summarized as follows:
- Total turnover: 22.000 million VND
- Cost of goods sold: 10.000 million VND
- Selling expenses: 1.200 million VND, including: a cost without legal document is 200 million
VND
- Administrative expenses: 3.300 million VND, including: administrative penalty is 300 million
VND, contact penalty is 300 million VND; compensation fine for late delivery 500 million
VND
- Other incomes: 700 million VND including dividends from earnings after tax of 200 million
VND.
- In the tax period, the company paid 1.500 million VND of corporate income tax in 2019.
- According to the financial report, company still has not transferred the loss of 500 million VND
of year 2018.
With the given information, please calculate Corporate income tax (CIT) of this company (CIT
rate is 20%).
Additional question:
Company An Phong was newly established on April 2021. What is the tax period of the first year of this
company? How many months are there in this first tax period?
Company Minh Ky was newly established on November 2021. What is the tax period of the first year of
this company? How many months are there in this first tax period?