The Ministry of Finance has issued Circular 20/2026/TT-BTC (Circular 20) to provide detailed regulations on corporate income tax (CIT). Due to the issuance of the Circular, Circular 78/2014/TT-BTC guiding the implementation of Decree 218/2013/ND-CP providing guidelines for the implementation of the Law on CIT, amended by Circular 96/2015/TT-BTC, has been repealed. Taking effect from March 12, 2026, Circular 20 applies from the 2025 tax year, and includes several notable points including:

(i) Regulations on the required documents for deductible expenses when determining taxable income;
(ii) Supplemented regulations on the timing of determining taxable corporate income in certain cases;
(iii) Some regulations regarding transitional provisions when applying Circular 20.