On April 29, 2016, the Ministry of Finance issued the Circular No. 67/2016/TT-BTC amending; supplementing some contents of the Circular No. 111/2007/TT-BTC dated September 12, 2007 guiding the implementation of financial management mechanism for Vietnam Development Bank.
In particular, after calculating the total actual capital amount as a basis to calculate the difference of interest, Vietnam Development Bank shall be excluded the actual capital amount that has been used to invest, purchase fixed assets (price of fixed assets minus depreciation); apart from ODA capital, authorized capital of the local, organizations, individuals, state capital transferred to clear debts for customers according to the Decision of the Government, capital sources used for activities that are not granted for the difference of interest; cash and deposit at other credit institutions to ensure liquidity at the actual rate but it should not exceed 7% over the capital used to lend on average.
Particularly, instead of the previous regulations that the expenditure paid for transaction costumes does not exceed 01 million dong per year, this Circular regulates that the expenditure should not exceed ½ of the maximum expenditure for transaction costumes in cash to be included in the expenses that are deducted when determining the taxable income for enterprises.
This Circular takes effect on June 20, 2016.
