1. Does Infina charge any fees for businesses?
Currently, Infina does not charge management fees for Businesses.
2. When a business receives profits from a business cooperation activity with Infina, does the business have to issue an invoice for this part of the profit?
Infina and its partner sign a Business Cooperation Contract (BCC), dividing the business results by profit before tax. The two parties agree to appoint Infina as the representative responsible for issuing invoices, recording revenue and expenses, and determining the profit before corporate income tax to be shared between each party to the business cooperation contract. Therefore, Infina’s customers will not have to issue an invoice for the profit received.
Referred laws: Based on clause n of Article 5 of Circular 78/2014/TT-BTC, regulations on revenue for calculating taxable income for business activities in the form of business cooperation contracts, as follows:
In cases where parties to a business cooperation contract divide the business results by profit before corporate income tax, the revenue to determine profit before tax is the amount of sales of goods and services under the contract. Parties to a business cooperation contract must appoint one party as the representative responsible for issuing invoices, recording revenue and expenses, and determining the profit before corporate income tax to be shared between each party to the business cooperation contract. Each party to the business cooperation contract shall fulfill its corporate income tax obligations in accordance with current regulations.
3. What types of taxes apply to businesses? Does Infina deduct these taxes?
Each party to a business cooperation contract shall fulfill its corporate income tax obligations in accordance with current regulations.
Infina will not deduct CIT for Businesses. Businesses are responsible for self-declaring and fulfilling their tax obligations with the State Agency (if any).
Additional notes:
- The term “BCC” is used in the original text and is likely an abbreviation for “Business Cooperation Contract”.
- The term “CIT” is used in the original text and is likely an abbreviation for “Corporate Income Tax”.