On 19 December 2024, the Tax Department of Binh Dinh province issued Official Letter No. 4928/CTBDI-TTHT guiding the arrears of land rent collected from before to 2024 and whether the corresponding late payment interest is deducted from income subject to corporate income tax in 2024 as follows:

For arrears of land rent related to production and business activities: The company is included in the cost but must correspond to the revenue of each period, it is not calculated in full for 2024 but must be calculated separately for each fiscal year in which the arrears of land rent are incurred. Therefore, the Company must make additional declarations for each CIT Finalization declaration dossier (from the previous year to 2023) to be deducted from CIT taxable income, if it meets the regulations on additional declaration of tax declaration dossiers mentioned above.

– For late payment interest: The company is not allowed to calculate unless determining income subject to CIT.