Should the cost of product packaging be included in the cost of the product under the lens of an expert?

In the production and business process, building a process to calculate the reasonable cost of products and services is very important in building competitive product prices in the market.

In addition, it is also important to gather costs and allocate costs appropriately into the product cost range. Misrecording costs to the wrong address will lead to actual inefficient cost management.

Frankly, the cost of product packaging is a particular cost that businesses and local tax authorities have not agreed on for a long time on where to collect costs. In fact, there are two controversial points of view of packaging cost accounting treats. One is accounting treat for the product cost, the other is accounting and selling expenses. Thus, what will be the basis legal evidence for appropriate cost accounting?

From the point of view of field experts and the Vietnamese General Department of Taxation, enterprises should clarify whether the cost of packaging is in the production process or in the product consumption process for the sales department for accounting purposes. according to the provisions of the law on accounting. Therefore, depending on the specific production and business process, the enterprise can implement the appropriate way of coordinating the cost of packaging into the cost or selling expenses.

Refer to CV No: 41332/CT-TTHT in 2018

Toni Tran                                                                                                                                          CEO Dong Du International Accounting, Taxes & Legal Consulting Group HCMC Vietnam.   Master of Accounting in Japan, CPA, CPTA, Lawyer, DBA Student at UBIS University Switzerland.

****************************************************

Dong Du International Accounting, Taxes & Legal Consulting Group Vietnam, A member of OneSMP Singapore, Southeast Asia Business Consulting Network, we specialize in accounting services, corporate tax advice, legal advice, business training, human resource consulting, product & market surveys…over 15 years up to now in the Vietnam market. Currently, we have also built a team of foreign experts from Japan, Singapore, Thailand, Cambodia … to help customers inside and outside Vietnam to expand appropriate business opportunities as well as possible.

[SETTING UP COMPANY, ACCOUNTING, TAX, LAW COMPLIANCE, HR…IN HO CHI MINH, VIET NAM FOR FOREIGN INVESTORS]

Home page: www.japanvietnam.com.vn. ; https://ddbis.edu.vn.
Facebook/LinkedIn: Dong Du International Accounting & Legal Consulting

In case you have any question, please contact us at tonitran01092020@gmail.com or Tel/ zalo/WhatsApp’s: 090 925 7602 for your references.

#setting up company in Vietnam accounting #tax #legal consulting
#coaching#humanresources