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– Pursuant to Article 4 of Circular No. 96/2015/TT-BTC as follows:

“Article 4. To amend Article 6 of Circular No. 78/2014/TT-BTC (To be amended in Clause 2 Article 6 of Circular No. 119/2014/TT-BTC and Article 1 of Circular No. 151/2014/TT-BTC) as follows:

“Article 6. Deductible and non-deductible expenses when calculating taxable income

1. Except for the non-deductible expenses prescribed in Clause 2 of this Article, every expense is deductible if all of these following conditions are satisfied:

2. The expenses below are not deductible when calculating taxable income:

2.22. Provision of sponsorship for education (including sponsorship for vocational education) for illegitimate recipients according to Point (a) or without documentation mentioned in Point (b) below:

a) Sponsorship for education include: Sponsorship for public and private schools of national education system as prescribed by regulations of law on education, provided such sponsorship is not meant to contribute capital or buy shares of schools; Sponsorship for infrastructure and equipment serving teaching and learning in schools; Sponsorship for regular operations of schools; …Sponsorship for competitions in the schools subjects participated by learners;…

b) Documents about sponsorship for education include: certification of sponsorship bearing the signature of the representative of the sponsoring establishment, representative of the legitimate educational institution, students (or an organization permitted to raise sponsorships) that receives the sponsorship (form No. 03/TNDN attached with Circular No. 78/2014/TT-BTC); invoices/receipts for purchase of goods (in case of in-kind sponsorship) or proof of payment (in case of monetary sponsorship).”

Based on the above regulations, it can be understood that if Schools are established and operate in the field of education in accordance with the provisions of law and receives sponsorships from the Company according to the provisions of Point 2.2, Clause 2, Article 4 of Circular No. 96/2015/TT-BTC, the Company can calculate these sponsorships as deductible expenses when calculating corporate income tax if it has complete documents according to regulations.