{"id":999969926,"date":"2024-09-09T13:40:41","date_gmt":"2024-09-09T06:40:41","guid":{"rendered":"https:\/\/bizzi.vn\/?p=999969926"},"modified":"2026-06-03T23:14:03","modified_gmt":"2026-06-03T16:14:03","slug":"taxpayer-taxpayer-taxpayer-taxpayer-taxpayer-taxpayer-tax","status":"publish","type":"post","link":"https:\/\/bizzi.vn\/en\/taxpayer-taxpayer-taxpayer-taxpayer-taxpayer-taxpayer-tax\/","title":{"rendered":"Cost of damage caused by Typhoon Yagi: Can businesses deduct it when determining taxable income?"},"content":{"rendered":"<div data-elementor-type=\"wp-post\" data-elementor-id=\"999969926\" class=\"elementor elementor-999969926\" data-elementor-post-type=\"post\">\n\t\t\t\t<div class=\"elementor-element elementor-element-2bdb2085 e-flex e-con-boxed e-con e-parent\" data-id=\"2bdb2085\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-f772cf5 elementor-widget elementor-widget-text-editor\" data-id=\"f772cf5\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Typhoon Yagi has caused serious consequences, including major property damage to many businesses. To help businesses overcome difficulties, deducting losses caused by Typhoon Yagi from corporate income tax is a top concern. <\/span><span style=\"font-weight: 400;\">For losses caused by Typhoon Yagi that are not compensated, this expense will be included in deductible expenses when determining the enterprise&#039;s taxable income.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">In this article, Bizzi will delve into the regulations on this issue, helping businesses have a basis for practical application after Typhoon Yagi.<\/span><\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter wp-image-999969927 size-full\" src=\"https:\/\/bizzi.vn\/wp-content\/uploads\/2024\/09\/z5808748906096-3ea8846dcdf23e8906651ea2e5497765-6539.jpg\" alt=\"Cost of damage caused by Typhoon Yagi: Can businesses deduct it when determining taxable income?\" width=\"1000\" height=\"749\" title=\"\" srcset=\"https:\/\/bizzi.vn\/wp-content\/uploads\/2024\/09\/z5808748906096-3ea8846dcdf23e8906651ea2e5497765-6539.jpg 1000w, https:\/\/bizzi.vn\/wp-content\/uploads\/2024\/09\/z5808748906096-3ea8846dcdf23e8906651ea2e5497765-6539-300x225.jpg 300w, https:\/\/bizzi.vn\/wp-content\/uploads\/2024\/09\/z5808748906096-3ea8846dcdf23e8906651ea2e5497765-6539-768x575.jpg 768w, https:\/\/bizzi.vn\/wp-content\/uploads\/2024\/09\/z5808748906096-3ea8846dcdf23e8906651ea2e5497765-6539-16x12.jpg 16w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_80 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Index<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewbox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewbox=\"0 0 24 24\" version=\"1.2\" baseprofile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/bizzi.vn\/en\/taxpayer-taxpayer-taxpayer-taxpayer-taxpayer-taxpayer-tax\/#1_Nguoi_nop_thue_thu_nhap_doanh_nghiep\" >1. Corporate income tax payer<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/bizzi.vn\/en\/taxpayer-taxpayer-taxpayer-taxpayer-taxpayer-taxpayer-tax\/#2_Chi_phi_ton_that_do_bao_Yagi_Doanh_nghiep_co_duoc_tinh_vao_chi_phi_duoc_tru_khi_xac_dinh_thu_nhap_chiu_thue_TNDN\" >2. Cost of damage caused by Typhoon Yagi: Can businesses include it in deductible expenses when determining taxable income for corporate income tax?&nbsp;<\/a><\/li><\/ul><\/nav><\/div>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"1_Nguoi_nop_thue_thu_nhap_doanh_nghiep\"><\/span>1. Corporate income tax payer<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Corporate income tax payers according to Article 2 <\/span><a href=\"https:\/\/thuvienphapluat.vn\/van-ban\/Doanh-nghiep\/Luat-thue-thu-nhap-doanh-nghiep-2008-66935.aspx?anchor=dieu_2\" rel=\"nofollow noopener\" target=\"_blank\"><span style=\"font-weight: 400;\">Law on Corporate Income Tax 2008<\/span><\/a><span style=\"font-weight: 400;\"> include:<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">\u2013 Corporate income tax payers are organizations engaged in production and business of goods and services with taxable income according to the provisions of law. <\/span><a href=\"https:\/\/thuvienphapluat.vn\/van-ban\/Doanh-nghiep\/Luat-thue-thu-nhap-doanh-nghiep-2008-66935.aspx\" rel=\"nofollow noopener\" target=\"_blank\"><span style=\"font-weight: 400;\">Law on Corporate Income Tax 2008<\/span><\/a><span style=\"font-weight: 400;\"> (hereinafter referred to as the enterprise), including:<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">+ Enterprises established under the provisions of Vietnamese law;<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">+ Enterprises established under the provisions of foreign law (hereinafter referred to as foreign enterprises) with or without a permanent establishment in Vietnam;<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">+ The organization was established according to <\/span><a href=\"https:\/\/thuvienphapluat.vn\/van-ban\/Doanh-nghiep\/Luat-Hop-tac-xa-2023-17-2023-QH15-499239.aspx\" rel=\"nofollow noopener\" target=\"_blank\"><span style=\"font-weight: 400;\">Law on Cooperatives 2023<\/span><\/a><span style=\"font-weight: 400;\">;&nbsp;<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">+ Public service units established in accordance with the provisions of Vietnamese law;<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">+ Other organizations with income-generating production and business activities.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">\u2013 Enterprises with taxable income as prescribed in Article 3 <\/span><a href=\"https:\/\/thuvienphapluat.vn\/van-ban\/Doanh-nghiep\/Luat-thue-thu-nhap-doanh-nghiep-2008-66935.aspx?anchor=dieu_3\" rel=\"nofollow noopener\" target=\"_blank\"><span style=\"font-weight: 400;\">Law on Corporate Income Tax 2008<\/span><\/a><span style=\"font-weight: 400;\"> (modify <\/span><a href=\"https:\/\/thuvienphapluat.vn\/van-ban\/Thue-Phi-Le-Phi\/Luat-sua-doi-cac-Luat-ve-thue-2014-259208.aspx?anchor=khoan_1_1\" rel=\"nofollow noopener\" target=\"_blank\"><span style=\"font-weight: 400;\">2014<\/span><\/a><span style=\"font-weight: 400;\">) must pay corporate income tax as follows:<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">+ Enterprises established under the provisions of Vietnamese law pay tax on taxable income arising in Vietnam and taxable income arising outside of Vietnam;<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">+ Foreign enterprises with permanent establishments in Vietnam pay tax on taxable income arising in Vietnam and taxable income arising outside Vietnam related to the activities of such permanent establishments;<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">+ Foreign enterprises with permanent establishments in Vietnam pay tax on taxable income arising in Vietnam that is not related to the activities of the permanent establishment;<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">+ Foreign enterprises without permanent establishments in Vietnam pay tax on taxable income arising in Vietnam.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">\u2013 A permanent establishment of a foreign enterprise is a production and business establishment through which the foreign enterprise conducts part or all of its production and business activities in Vietnam to generate income, including:<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">+ Branches, executive offices, factories, workshops, means of transport, mines, oil and gas fields or other natural resource exploitation sites in Vietnam;<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">+ Construction site, construction works, installation, assembly;<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">+ Service providers, including consulting services through employees or other organizations or individuals;<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">+ Agent for foreign enterprises;<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">+ Representative in Vietnam in case of being a representative authorized to sign contracts in the name of a foreign enterprise or a representative not authorized to sign contracts in the name of a foreign enterprise but regularly delivering goods or providing services in Vietnam.<\/span><\/p>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"2_Chi_phi_ton_that_do_bao_Yagi_Doanh_nghiep_co_duoc_tinh_vao_chi_phi_duoc_tru_khi_xac_dinh_thu_nhap_chiu_thue_TNDN\"><\/span>2. Cost of damage caused by Typhoon Yagi: Can businesses include it in deductible expenses when determining taxable income for corporate income tax?&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">According to Clause 2.1 Article 6 <\/span><a href=\"https:\/\/thuvienphapluat.vn\/van-ban\/Doanh-nghiep\/Thong-tu-78-2014-TT-BTC-huong-dan-218-2013-ND-CP-thi-hanh-Luat-Thue-thu-nhap-doanh-nghiep-236976.aspx?anchor=dieu_6\" rel=\"nofollow noopener\" target=\"_blank\"><span style=\"font-weight: 400;\">Circular 78\/2014\/TT-BTC<\/span><\/a><span style=\"font-weight: 400;\"> (amended in Article 4) <\/span><a href=\"https:\/\/thuvienphapluat.vn\/van-ban\/Doanh-nghiep\/Thong-tu-96-2015-TT-BTC-huong-dan-thue-thu-nhap-doanh-nghiep-tai-Nghi-dinh-12-2015-ND-CP-279331.aspx\" rel=\"nofollow noopener\" target=\"_blank\"><span style=\"font-weight: 400;\">Circular 96\/2015\/TT-BTC<\/span><\/a><span style=\"font-weight: 400;\">) then in case the enterprise has expenses related to the value of the loss due to <\/span><b><i>natural disaster<\/i><\/b><span style=\"font-weight: 400;\">, epidemics, fires and other force majeure <\/span><b><i>no compensation<\/i><\/b><span style=\"font-weight: 400;\"> This expense is included in deductible expenses when determining taxable income for corporate income tax, specifically as follows:<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">* Enterprises must clearly determine the total value of losses caused by natural disasters, epidemics, fires and other force majeure events as prescribed by law.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">* The value of loss due to natural disasters, epidemics, fires and other force majeure events that are not compensated is determined by the total value of loss minus the value that the insurance company or other organizations and individuals must compensate according to the provisions of law.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">** Records for assets and goods lost due to natural disasters, epidemics, and fires are included in deductible expenses as follows:<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">\u2013 Minutes of inventory of lost assets and goods made by the enterprise.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The record of inventory of lost assets and goods must clearly identify the value of lost assets and goods, the cause of loss, the responsibility of the organization or individual for the loss; the type, quantity, and value of recoverable assets and goods (if any); the list of imported and exported goods with the confirmation of the legal representative of the enterprise who is responsible before the law.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">\u2013 Damage claim file accepted for compensation by insurance agency (if any).<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">\u2013 The dossier specifies the responsibilities of the organization or individual that must pay compensation (if any).<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">** Goods damaged due to changes in natural biochemical processes, expired goods, and not compensated are included in deductible expenses when determining taxable income.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Records for goods damaged due to changes in natural biochemical processes, expired goods, are included in deductible expenses as follows:<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">\u2013 Minutes of inventory of damaged goods value prepared by the enterprise.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The inventory record of damaged goods must clearly identify the value of damaged goods, the cause of damage; the type, quantity, and recoverable value of goods (if any), accompanied by a list of damaged goods with confirmation signed by the legal representative of the enterprise and responsible before the law.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">\u2013 Damage claim file accepted for compensation by insurance agency (if any).<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">\u2013 The dossier specifies the responsibilities of the organization or individual that must pay compensation (if any).<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">** The above documents are kept at the enterprise and presented to the tax authority when requested by the tax authority.<\/span><\/p>\n<p style=\"text-align: justify;\">According to Clause 1, Article 3&nbsp;<a href=\"https:\/\/thuvienphapluat.vn\/van-ban\/Van-hoa-Xa-hoi\/Luat-phong-chong-thien-tai-nam-2013-197310.aspx?anchor=dieu_3\" target=\"_blank\" rel=\"noopener nofollow\">Law on Natural Disaster Prevention and Control 2013<\/a>&nbsp;(modify&nbsp;<a href=\"https:\/\/thuvienphapluat.vn\/van-ban\/Tai-nguyen-Moi-truong\/Luat-Phong-chong-thien-tai-Luat-De-dieu-sua-doi-2020-so-60-2020-QH14-373522.aspx?anchor=diem_a_1_1\" target=\"_blank\" rel=\"noopener nofollow\">2020<\/a>) then natural disasters are unusual natural phenomena that can cause damage to people, property, environment, living conditions and socio-economic activities, including&nbsp;<strong><em>storm<\/em><\/strong>, tropical depression, strong winds at sea, tornadoes, lightning, heavy rain, floods, flash floods, inundation; landslides, land subsidence due to heavy rain or water flow or drought; rising water, saltwater intrusion, heat, drought, natural forest fires, cold, hail, fog, frost, earthquakes, tsunamis and other natural disasters.<\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Through this article, we have learned about the costs of losses caused by Typhoon Yagi that can be deducted when determining taxable income. Understanding this regulation will help businesses reduce their tax burden and have more resources to restore production and business. However, to ensure compliance with legal regulations, businesses need to consult with accounting experts or tax authorities.<\/span><\/p>\n<p style=\"text-align: right;\"><strong>According to <a href=\"https:\/\/thuvienphapluat.vn\/chinh-sach-phap-luat-moi\/vn\/ho-tro-phap-luat\/tu-van-phap-luat\/70831\/chi-phi-ton-that-do-bao-yagi-doanh-nghiep-co-duoc-tinh-vao-chi-phi-duoc-tru-khi-xac-dinh-thu-nhap-chiu-thue-tndn\" rel=\"nofollow noopener\" target=\"_blank\">Law Library<\/a><\/strong><\/p>\n<p style=\"text-align: justify;\"><strong>&gt;&gt; See more: <a href=\"https:\/\/bizzi.vn\/khac-phuc-bao-yagi-cac-khoan-chi-ve-thien-tai-nam-2024\/\">Typhoon Yagi Recovery: Natural Disaster Expenses Deductible in Determining 2024 Corporate Income Tax<\/a><\/strong><\/p>\n<p>Monitor&nbsp;<a href=\"https:\/\/bizzi.vn\/?swcfpc=1\">Bizzi<\/a>&nbsp;To quickly receive the latest information:<\/p>\n<ul>\n<li aria-level=\"1\">Facebook:&nbsp;<a href=\"https:\/\/www.facebook.com\/bizzivietnam\" target=\"_blank\" rel=\"noopener nofollow\">https:\/\/www.facebook.com\/bizzivietnam<\/a><\/li>\n<li aria-level=\"1\">Linkedin:&nbsp;<a href=\"https:\/\/www.linkedin.com\/company\/bizzi-vietnam\/\" target=\"_blank\" rel=\"noopener nofollow\">https:\/\/www.linkedin.com\/company\/bizzi-vietnam\/<\/a><\/li>\n<li aria-level=\"1\">Youtube:&nbsp;<a href=\"https:\/\/www.youtube.com\/@bizzivietnam\" target=\"_blank\" rel=\"noopener nofollow\">https:\/\/www.youtube.com\/@bizzivietnam<\/a><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>","protected":false},"excerpt":{"rendered":"<p>Typhoon Yagi has caused serious consequences, including major property damage to many businesses\u2026.<\/p>","protected":false},"author":37,"featured_media":999969927,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-999969926","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tin-tuc"],"acf":[],"_links":{"self":[{"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/posts\/999969926","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/users\/37"}],"replies":[{"embeddable":true,"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/comments?post=999969926"}],"version-history":[{"count":1,"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/posts\/999969926\/revisions"}],"predecessor-version":[{"id":999980965,"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/posts\/999969926\/revisions\/999980965"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/media\/999969927"}],"wp:attachment":[{"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/media?parent=999969926"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/categories?post=999969926"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/tags?post=999969926"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}