In cases where employees receive cash or in-kind bonuses for participating in prize-winning contests or other awards organized by the Company, if it is determined that these constitute income from winnings according to the guidance in point đ, Clause 6, Article 2 of Circular No. 111/2013/TT-BTC, then the portion of the prize value exceeding 10 million VND that the individual receives, without deducting any expenses, is considered taxable personal income. The Company will withhold PIT before awarding the prize to the winner according to the guidance in Article 15 of Circular No. 111/2013/TT-BTC (as amended and supplemented by Article 18 of Circular No. 92/2015/TT-BTC).
These welfare-related expenses, if they meet all the conditions outlined in Clause 1 and point 2.30, Clause 2, Article 6 of Circular No. 78/2014/TT-BTC (as amended and supplemented by Circular No. 119/2014/TT-BTC dated August 25, 2014, Circular No. 151/2014/TT-BTC dated October 10, 2014, Circular No. 96/2015/TT-BTC dated June 22, 2015, and Circular No. 25/2018/TT-BTC dated March 16, 2018, of the Ministry of Finance), will be deductible when determining taxable corporate income.