Accounting for expenses incurred due to the impact of Covid-19 pandemic

Accounting for expenses incurred due to the impact of Covid-19 pandemic

10/1/2021
Accounting for expenses incurred due to the impact of Covid-19 pandemic
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On September 10th 2021, the Ministry of Finance issued Official Letter No. 10385/BTC-QLKT guiding the accounting for expenses incurred due to the impact of Covid-19 pandemic

During the ceased time due to Covid-19 pandemic, the company records costs related to direct production departments to 811 account – Other expenses. Besides, the company must disclose this accounting on Notes of Financial Statements.

The determination of tax liability for costs related to direct production departments arising due to the impact of Covid-19 pandemic shall comply with tax laws.