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EID: Explanation for audit\u2019s note in FS (First 06 months)
On
09/09/2013, Hanoi Education Development and Investment JSC explained for
audit’s note in FS of the first 06 months of 2013 as follows:
According to the
Circular No. 123/2012/TT-BTC on 27/07/2012, the income of the Company from the
publishing activity under the provisions of Publication Law will be enjoy the
preferential tax rate is 10% during the operation of the Company. However, to
ensure the conservative in accounting works, the Company (particular is Viet
Nam Education Publisher representing companies in the system) has made
procedures and submitted directly to Financial Ministry to ask for direction
about applying the content of the mentioned documents above with the specific
of the Company in particular and Viet Nam Education Publisher in General. But
by the time of publishing the audited FS of 2012, there was none of the
mentioned direction above, so in 2012, the Company temporarily counted the
enterprise tax according to the tax rate at that moment was 25%. Until 29/05/2013,
the Financial Ministry has issued a Circular No. 6833/BTC-CST about enterprise
income tax for publishing activities according to Publication Law. Thus, the
income of members of Vietnam Education Ministry Publisher (Including Hanoi
Education Development and Investment JSC) from publishing according to
Publication Law by implementing stages or each stage of publishing activities
are enjoy the enterprise income tax rate is 10%. Therefore, in the accounting
period from 01/01/2013 to 30/06/2013, the Company has implemented the
retrospective adjustment for enterprise income tax of 2012 because of
decreasing tax rate from 25% to 10% for publishing with the adjusted amount is
VND 3,876,192,763. HNX
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