XML 84 R49.htm IDEA: XBRL DOCUMENT
v3.24.1.u1

CORPORATE INCOME TAX (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
CORPORATE INCOME TAX |
Summary of major components of tax expense | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the year ended December 31,
​ |  | 2021 |  | 2022 | ​ | 2023 |  | 2023
​ | ​ | VND million | ​ | VND million | ​ | VND million | ​ | USD
Income taxes |  |  |  |  | ​ | ​ |  |
Current income tax expense |  | 58,701 |  | — | ​ | 111,426 |  | 4,668,859
Deferred income tax expense/(income) |  | 150,536 |  | 946,738 | ​ | (22,294) |  | (934,174)
Income tax expense reported in the consolidated statement of operations |  | 209,237 |  | 946,738 | ​ | 89,132 |  | 3,734,685
Summary of reconciliation of tax computed by applying the Vietnam's statutory tax rate of 20% to the Group's income tax expense | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the year ended December 31,
​ |  | 2021 |  | 2022 | ​ | 2023 |  | 2023
​ | ​ | VND million | ​ | VND million | ​ | VND million | ​ | USD
Loss before tax expense |  | (32,009,724) |  | (48,902,132) | ​ | (57,382,539) |  | (2,404,363,492)
Income tax benefit computed at the Vietnam statutory tax rate of 20% |  | (6,401,985) |  | (9,780,426) | ​ | (11,476,508) |  | (480,872,691)
Effect of preferential tax rates |  | 3,086,200 |  | 4,397,659 | ​ | 5,189,246 |  | 217,432,638
Foreign tax rates differential |  | (128,853) |  | (232,379) | ​ | (341,129) |  | (14,293,538)
Non-deductible expenses |  | 181,983 |  | 684,104 | ​ | 2,411,043 |  | 101,024,110
Change in valuation allowance |  | 3,471,892 |  | 5,877,780 | ​ | 4,306,480 |  | 180,444,166
Estimated income tax expense |  | 209,237 |  | 946,738 | ​ | 89,132 |  | 3,734,685
Summary of deferred tax assets and deferred tax liabilities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the year ended December 31,
​ |  | 2021 |  | 2022 | ​ | 2023 |  | 2023
​ | ​ | VND million | ​ | VND million | ​ | VND million | ​ | USD
Deferred tax assets |  |  |  |  | ​ | ​ |  |
Unrecognised tax loss carried forward |  | 1,745,182 |  | 3,238,531 | ​ | 5,051,815 |  | 211,674,139
Deferred tax assets from lease back transaction |  | — |  | 2,806,243 | ​ | 3,159,925 |  | 132,402,791
Written-off R&D expenses |  | 118,549 |  | 877,778 | ​ | 2,136,302 |  | 89,512,361
Lease liabilities |  | 384,044 |  | 904,451 | ​ | 1,063,152 |  | 44,546,719
Exceeding-deductible-cap interest expense carried forward |  | 430,351 |  | 728,237 | ​ | 1,119,351 |  | 46,901,492
Start-up costs |  | — |  | 704,720 | ​ | 794,479 |  | 33,289,156
Provision for net realizable value of inventory |  | 11,281 |  | 192,142 | ​ | 443,048 |  | 18,563,982
Impairment of lease assets |  | — |  | 122,954 | ​ | 44,663 |  | 1,871,407
Others |  | 534,947 |  | 173,872 | ​ | 732,297 |  | 30,683,692
Total deferred tax assets |  | 3,224,354 |  | 9,748,928 | ​ | 14,545,032 |  | 609,445,739
Less valuation allowance |  | (2,840,310) |  | (7,570,934) | ​ | (12,046,066) |  | (504,737,535)
Total deferred tax assets, net amount |  | 384,044 |  | 2,177,994 | ​ | 2,498,966 |  | 104,708,204
Deferred tax liabilities |  |  |  |  | ​ | ​ |  |
Deferred tax liabilities from lease back transaction |  | — |  | (2,115,120) | ​ | (2,202,528) |  | (92,287,271)
Right-of-use assets |  | (384,044) |  | (904,451) | ​ | (1,063,152) |  | (44,546,719)
Others |  | (1,243) |  | (106,404) | ​ | (158,973) |  | (6,661,066)
Total deferred tax liabilities |  | (385,287) |  | (3,125,975) | ​ | (3,424,653) |  | (143,495,056)
Net deferred tax liabilities |  | (1,243) |  | (947,981) | ​ | (925,687) |  | (38,786,852)
Reflected in the consolidated balance sheet as follows: |  |  |  |  | ​ | ​ |  |
Deferred tax assets |  | 50,219 |  | — | ​ | — |  | —
Deferred tax liabilities |  | (51,462) |  | (947,981) | ​ | (925,687) |  | (38,786,852)
Deferred tax liabilities, net |  | (1,243) |  | (947,981) | ​ | (925,687) |  | (38,786,852)
Summary of movement of valuation allowance | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the year ended December 31,
​ |  | 2021 |  | 2022 | ​ | 2023 |  | 2023
​ | ​ | VND million | ​ | VND million | ​ | VND million | ​ | USD
Balance at beginning of the year |  | 1,721,902 |  | 2,840,310 | ​ | 7,570,934 |  | 317,226,766
Additions |  | 1,118,408 |  | 4,730,624 | ​ | 4,475,132 |  | 187,510,769
Balance at end of the year |  | 2,840,310 |  | 7,570,934 | ​ | 12,046,066 |  | 504,737,535
Summary of tax losses mainly arising in Vietnam that will expire in several years for deduction against future taxable profit | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ | ​ | ​ | ​ |  | Tax losses amount
​ | ​ | ​ | ​ | Tax losses amount | ​ | Forfeited amount | ​ | after fortfeit
Originating year | ​ | Can be utilized up to | ​ | VND million | ​ | VND million | ​ | VND million
2018 | ​ | 2023 | ​ | 38,141 | ​ | (38,141) | ​ | —
2019 |  | 2024 | ​ | 3,159,750 | ​ | — |  | 3,159,750
2020 |  | 2025 | ​ | 10,146,449 | ​ | — |  | 10,146,449
2021 |  | 2026 | ​ | 16,833,932 | ​ | — |  | 16,833,932
2022 |  | 2027 | ​ | 26,647,819 | ​ | — |  | 26,647,819
2023 | ​ | 2028 | ​ | 4,975,403 | ​ | — | ​ | 4,975,403
TOTAL |  | ​ | ​ | 61,801,494 | ​ | (38,141) |  | 61,763,353

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 9 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-9 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-2 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 12 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-12 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of pertinent information, such as tax authority, amounts, and expiration dates, of net operating loss carryforwards, including an assessment of the likelihood of utilization. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-3 + Details
Name: | us-gaap_SummaryOfOperatingLossCarryforwardsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of valuation allowances to reduce deferred tax assets to net realizable value, including identification of the deferred tax asset more likely than not will not be fully realized and the corresponding amount of the valuation allowance. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-2 + Details
Name: | us-gaap_SummaryOfValuationAllowanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration