Withholding method TAXABLE TURNOVER FOR CIT (5/12) Example construction service with a Vietnamese party to construct a cement plant in VN at a contract amount of USD10 million Foreign contractor F . Foreign sub-contracts a part of work to a Vietnamese contractor, at a cost of USD1 million . The taxable turnover of Foreign F enters contractor F is calculated as follows: into a Taxable turnover for CIT USD10 mil - USD1 mil USD9 mil = =
Withholding method TAXABLE TURNOVER FOR CIT (5/12) Example Foreign F enters into a construction service with a Vietnamese party to construct a cement plant in VN at a contract amount of USD10 million . Foreign contractor F sub-contracts a part of work to a Vietnamese contractor, at a cost of USD1 million . The taxable turnover of Foreign contractor F is calculated as follows: Taxable turnover for CIT = USD10 mil - USD1 mil = USD9 mil
1012_VS-FCT%20Slides%20(Trainer).docx