{"id":3943,"date":"2026-04-29T16:13:04","date_gmt":"2026-04-29T09:13:04","guid":{"rendered":"https:\/\/giaodichlienket.man.net.vn\/?p=3943"},"modified":"2026-04-29T16:13:04","modified_gmt":"2026-04-29T09:13:04","slug":"ebitda-am-co-duoc-chuyen-chi-phi-lai-vay","status":"publish","type":"post","link":"https:\/\/giaodichlienket.man.net.vn\/en\/ebitda-am-co-duoc-chuyen-chi-phi-lai-vay\/","title":{"rendered":"EBITDA \u00e2m c\u00f3 \u0111\u01b0\u1ee3c chuy\u1ec3n chi ph\u00ed l\u00e3i vay kh\u00f4ng?"},"content":{"rendered":"<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">EBITDA \u00e2m c\u00f3 \u0111\u01b0\u1ee3c chuy\u1ec3n chi ph\u00ed l\u00e3i vay kh\u00f4ng? L\u00e0 c\u00e2u h\u1ecfi khi\u1ebfn nhi\u1ec1u CFO, k\u1ebf to\u00e1n tr\u01b0\u1edfng v\u00e0 doanh nghi\u1ec7p c\u00f3 giao d\u1ecbch li\u00ean k\u1ebft \u0111\u1eb7c bi\u1ec7t quan t\u00e2m. Khi EBITDA nh\u1ecf h\u01a1n ho\u1eb7c b\u1eb1ng 0, to\u00e0n b\u1ed9 chi ph\u00ed l\u00e3i vay c\u00f3 th\u1ec3 b\u1ecb lo\u1ea1i kh\u1ecfi chi ph\u00ed \u0111\u01b0\u1ee3c tr\u1eeb, k\u00e9o theo r\u1ee7i ro truy thu thu\u1ebf TNDN v\u00e0 \u00e1p l\u1ef1c d\u00f2ng ti\u1ec1n r\u1ea5t l\u1edbn. Tuy nhi\u00ean, theo quy \u0111\u1ecbnh t\u1ea1i <\/span><strong><span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https:\/\/thuvienphapluat.vn\/van-ban\/Doanh-nghiep\/Nghi-dinh-132-2020-ND-CP-quy-dinh-quan-ly-thue-doi-voi-doanh-nghiep-co-giao-dich-lien-ket-452218.aspx\" rel=\"nofollow noopener\" target=\"_blank\">Ngh\u1ecb \u0111\u1ecbnh 132\/2020\/N\u0110-CP<\/a><\/span><\/strong><span style=\"font-weight: 400;\"> v\u00e0 c\u00e1c c\u1eadp nh\u1eadt t\u1eeb <\/span><strong><span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https:\/\/vanban.chinhphu.vn\/?pageid=27160&amp;docid=212716\" rel=\"nofollow noopener\" target=\"_blank\">Ngh\u1ecb \u0111\u1ecbnh 20\/2025\/N\u0110-CP<\/a><\/span><\/strong><span style=\"font-weight: 400;\">, doanh nghi\u1ec7p v\u1eabn c\u00f3 c\u01a1 ch\u1ebf chuy\u1ec3n chi ph\u00ed l\u00e3i vay v\u01b0\u1ee3t tr\u1ea7n sang t\u1ed1i \u0111a 05 n\u0103m ti\u1ebfp theo n\u1ebfu \u0111\u00e1p \u1ee9ng \u0111\u00fang \u0111i\u1ec1u ki\u1ec7n k\u00ea khai. B\u00e0i vi\u1ebft n\u00e0y s\u1ebd ph\u00e2n t\u00edch chuy\u00ean s\u00e2u b\u1ea3n ch\u1ea5t ph\u00e1p l\u00fd, c\u01a1 ch\u1ebf chuy\u1ec3n ti\u1ebfp chi ph\u00ed l\u00e3i vay, c\u00e1c thay \u0111\u1ed5i m\u1edbi nh\u1ea5t v\u00e0 chi\u1ebfn l\u01b0\u1ee3c qu\u1ea3n tr\u1ecb thu\u1ebf hi\u1ec7u qu\u1ea3 \u0111\u1ec3 doanh nghi\u1ec7p kh\u00f4ng \u0111\u00e1nh m\u1ea5t quy\u1ec1n l\u1ee3i kh\u1ea5u tr\u1eeb h\u1ee3p ph\u00e1p.\u00a0<\/span><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">M\u1ee5c l\u1ee5c<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/giaodichlienket.man.net.vn\/en\/ebitda-am-co-duoc-chuyen-chi-phi-lai-vay\/#Ban_chat_cua_EBITDA_duoi_lang_kinh_Thue_va_Chuyen_gia\" >B\u1ea3n ch\u1ea5t c\u1ee7a EBITDA d\u01b0\u1edbi l\u0103ng k\u00ednh Thu\u1ebf v\u00e0 Chuy\u1ec3n gi\u00e1<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/giaodichlienket.man.net.vn\/en\/ebitda-am-co-duoc-chuyen-chi-phi-lai-vay\/#EBITDA_am_co_duoc_chuyen_chi_phi_lai_vay\" >EBITDA \u00e2m c\u00f3 \u0111\u01b0\u1ee3c chuy\u1ec3n chi ph\u00ed l\u00e3i vay?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/giaodichlienket.man.net.vn\/en\/ebitda-am-co-duoc-chuyen-chi-phi-lai-vay\/#Tai_sao_EBITDA_am_lai_dan_den_chi_phi_lai_vay_bi_loai_ngay_lap_tuc\" >T\u1ea1i sao EBITDA \u00e2m l\u1ea1i d\u1eabn \u0111\u1ebfn chi ph\u00ed l\u00e3i vay b\u1ecb lo\u1ea1i ngay l\u1eadp t\u1ee9c?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/giaodichlienket.man.net.vn\/en\/ebitda-am-co-duoc-chuyen-chi-phi-lai-vay\/#Co_che_chuyen_chi_phi_lai_vay_sang_ky_sau\" >C\u01a1 ch\u1ebf chuy\u1ec3n chi ph\u00ed l\u00e3i vay sang k\u1ef3 sau<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/giaodichlienket.man.net.vn\/en\/ebitda-am-co-duoc-chuyen-chi-phi-lai-vay\/#Nhung_diem_moi_tu_Nghi_dinh_202025ND-CP_anh_huong_den_viec_chuyen_chi_phi\" >Nh\u1eefng \u0111i\u1ec3m m\u1edbi t\u1eeb Ngh\u1ecb \u0111\u1ecbnh 20\/2025\/N\u0110-CP \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn vi\u1ec7c chuy\u1ec3n chi ph\u00ed<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/giaodichlienket.man.net.vn\/en\/ebitda-am-co-duoc-chuyen-chi-phi-lai-vay\/#Quy_tac_FIFO_trong_chuyen_doi_lai_vay\" >Quy t\u1eafc FIFO trong chuy\u1ec3n \u0111\u1ed5i l\u00e3i vay<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/giaodichlienket.man.net.vn\/en\/ebitda-am-co-duoc-chuyen-chi-phi-lai-vay\/#Loai_tru_thu_nhap_bat_thuong\" >Lo\u1ea1i tr\u1eeb thu nh\u1eadp b\u1ea5t th\u01b0\u1eddng<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/giaodichlienket.man.net.vn\/en\/ebitda-am-co-duoc-chuyen-chi-phi-lai-vay\/#Noi_long_cho_cac_don_vi_ha_tang_va_uu_dai_chinh_phu\" >N\u1edbi l\u1ecfng cho c\u00e1c \u0111\u01a1n v\u1ecb h\u1ea1 t\u1ea7ng v\u00e0 \u01b0u \u0111\u00e3i ch\u00ednh ph\u1ee7<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/giaodichlienket.man.net.vn\/en\/ebitda-am-co-duoc-chuyen-chi-phi-lai-vay\/#Nhung_rui_ro_tiem_an_va_sai_lam_thuong_gap_khi_chuyen_chi_phi_lai_vay\" >Nh\u1eefng r\u1ee7i ro ti\u1ec1m \u1ea9n v\u00e0 sai l\u1ea7m th\u01b0\u1eddng g\u1eb7p khi chuy\u1ec3n chi ph\u00ed l\u00e3i vay<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/giaodichlienket.man.net.vn\/en\/ebitda-am-co-duoc-chuyen-chi-phi-lai-vay\/#Chien_luoc_toi_uu_hoa_cau_truc_tai_chinh_cho_doanh_nghiep_co_EBITDA_thap\" >Chi\u1ebfn l\u01b0\u1ee3c t\u1ed1i \u01b0u h\u00f3a c\u1ea5u tr\u00fac t\u00e0i ch\u00ednh cho doanh nghi\u1ec7p c\u00f3 EBITDA th\u1ea5p<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/giaodichlienket.man.net.vn\/en\/ebitda-am-co-duoc-chuyen-chi-phi-lai-vay\/#Can_doi_giua_no_vay_va_von_chu_so_huu\" >C\u00e2n \u0111\u1ed1i gi\u1eefa n\u1ee3 vay v\u00e0 v\u1ed1n ch\u1ee7 s\u1edf h\u1eefu<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/giaodichlienket.man.net.vn\/en\/ebitda-am-co-duoc-chuyen-chi-phi-lai-vay\/#Tan_dung_toi_da_lai_tien_gui_de_tang_du_dia_khau_tru\" >T\u1eadn d\u1ee5ng t\u1ed1i \u0111a l\u00e3i ti\u1ec1n g\u1eedi \u0111\u1ec3 t\u0103ng d\u01b0 \u0111\u1ecba kh\u1ea5u tr\u1eeb<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/giaodichlienket.man.net.vn\/en\/ebitda-am-co-duoc-chuyen-chi-phi-lai-vay\/#Thiet_lap_he_thong_theo_doi_lai_vay_biet_lap\" >Thi\u1ebft l\u1eadp h\u1ec7 th\u1ed1ng theo d\u00f5i l\u00e3i vay bi\u1ec7t l\u1eadp<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/giaodichlienket.man.net.vn\/en\/ebitda-am-co-duoc-chuyen-chi-phi-lai-vay\/#Ket_luan\" >K\u1ebft lu\u1eadn<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/giaodichlienket.man.net.vn\/en\/ebitda-am-co-duoc-chuyen-chi-phi-lai-vay\/#Thong_tin_lien_he_MAN_%E2%80%93_Master_Accountant_Network\" >Th\u00f4ng tin li\u00ean h\u1ec7 MAN &#8211; Master Accountant Network<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/giaodichlienket.man.net.vn\/en\/ebitda-am-co-duoc-chuyen-chi-phi-lai-vay\/#Cau_hoi_thuong_gap_ve_EBITDA_am_co_duoc_chuyen_chi_phi_lai_vay\" >C\u00e2u h\u1ecfi th\u01b0\u1eddng g\u1eb7p v\u1ec1 EBITDA \u00e2m c\u00f3 \u0111\u01b0\u1ee3c chuy\u1ec3n chi ph\u00ed l\u00e3i vay<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/giaodichlienket.man.net.vn\/en\/ebitda-am-co-duoc-chuyen-chi-phi-lai-vay\/#Neu_EBITDA_am_nhung_cong_ty_me_cho_vay_khong_lai_suat_0_thi_co_xay_ra_van_de_gi_khong\" >N\u1ebfu EBITDA \u00e2m nh\u01b0ng c\u00f4ng ty m\u1eb9 cho vay kh\u00f4ng l\u00e3i su\u1ea5t (0%) th\u00ec c\u00f3 x\u1ea3y ra v\u1ea5n \u0111\u1ec1 g\u00ec kh\u00f4ng?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/giaodichlienket.man.net.vn\/en\/ebitda-am-co-duoc-chuyen-chi-phi-lai-vay\/#Chi_phi_lai_vay_tu_nam_co_EBITDA_am_co_duoc_chuyen_sang_nam_doanh_nghiep_dang_duoc_mien_thue_100_khong\" >Chi ph\u00ed l\u00e3i vay t\u1eeb n\u0103m c\u00f3 EBITDA \u00e2m c\u00f3 \u0111\u01b0\u1ee3c chuy\u1ec3n sang n\u0103m doanh nghi\u1ec7p \u0111ang \u0111\u01b0\u1ee3c mi\u1ec5n thu\u1ebf 100% kh\u00f4ng?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/giaodichlienket.man.net.vn\/en\/ebitda-am-co-duoc-chuyen-chi-phi-lai-vay\/#Nghi_dinh_202025_co_hoi_to_cho_cac_nam_EBITDA_am_truoc_do_khong\" >Ngh\u1ecb \u0111\u1ecbnh 20\/2025 c\u00f3 h\u1ed3i t\u1ed1 cho c\u00e1c n\u0103m EBITDA \u00e2m tr\u01b0\u1edbc \u0111\u00f3 kh\u00f4ng?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Ban_chat_cua_EBITDA_duoi_lang_kinh_Thue_va_Chuyen_gia\"><\/span><b>B\u1ea3n ch\u1ea5t c\u1ee7a EBITDA d\u01b0\u1edbi l\u0103ng k\u00ednh Thu\u1ebf v\u00e0 Chuy\u1ec3n gi\u00e1<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Tr\u01b0\u1edbc khi \u0111i s\u00e2u v\u00e0o vi\u1ec7c gi\u1ea3i \u0111\u00e1p EBITDA \u00e2m c\u00f3 \u0111\u01b0\u1ee3c chuy\u1ec3n chi ph\u00ed l\u00e3i vay hay kh\u00f4ng, c\u1ea7n th\u1ed1ng nh\u1ea5t v\u1ec1 c\u00e1ch x\u00e1c \u0111\u1ecbnh ch\u1ec9 s\u1ed1 EBITDA trong b\u1ed1i c\u1ea3nh ch\u1ed1ng chuy\u1ec3n gi\u00e1 to\u00e0n c\u1ea7u (BEPS Action 4).<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Kh\u00e1c v\u1edbi EBITDA trong b\u00e1o c\u00e1o t\u00e0i ch\u00ednh qu\u1ea3n tr\u1ecb (th\u01b0\u1eddng ch\u1ec9 \u0111\u01a1n thu\u1ea7n l\u00e0 L\u1ee3i nhu\u1eadn v\u1eadn h\u00e0nh + Kh\u1ea5u hao), EBITDA theo quy \u0111\u1ecbnh thu\u1ebf t\u1ea1i Vi\u1ec7t Nam \u0111\u01b0\u1ee3c x\u00e1c \u0111\u1ecbnh ch\u1eb7t ch\u1ebd h\u01a1n \u0111\u1ec3 ph\u1ee5c v\u1ee5 m\u1ee5c ti\u00eau kh\u1ed1ng ch\u1ebf tr\u1ea7n chi ph\u00ed l\u00e3i vay. \u0110\u00e2y l\u00e0 m\u1ed9t c\u01a1 ch\u1ebf ph\u00f2ng v\u1ec7 nh\u1eb1m ng\u0103n ch\u1eb7n t\u00ecnh tr\u1ea1ng chuy\u1ec3n l\u1ee3i nhu\u1eadn qua bi\u00ean gi\u1edbi th\u00f4ng qua c\u00f4ng c\u1ee5 n\u1ee3 vay.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Theo \u0111\u00f3, EBITDA t\u00ednh thu\u1ebf \u0111\u01b0\u1ee3c x\u00e1c \u0111\u1ecbnh theo c\u00f4ng th\u1ee9c:<\/span><\/p>\n<table style=\"width: 100%; border-color: #000000;\" border=\"1\" cellspacing=\"2\" cellpadding=\"12\">\n<tbody>\n<tr>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">EBITDA = L\u1ee3i nhu\u1eadn thu\u1ea7n H\u0110KD + Chi ph\u00ed l\u00e3i vay thu\u1ea7n (sau khi tr\u1eeb l\u00e3i ti\u1ec1n g\u1eedi\/l\u00e3i cho vay) + Kh\u1ea5u hao<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">V\u1eady EBITDA \u00e2m c\u00f3 \u0111\u01b0\u1ee3c chuy\u1ec3n chi ph\u00ed l\u00e3i vay. Ch\u1ec9 khi x\u00e1c \u0111\u1ecbnh \u0111\u00fang EBITDA t\u00ednh thu\u1ebf (v\u1ed1n c\u00f3 th\u1ec3 kh\u00e1c bi\u1ec7t r\u1ea5t l\u1edbn so v\u1edbi EBITDA k\u1ebf to\u00e1n do c\u00e1c \u0111i\u1ec1u ch\u1ec9nh v\u1ec1 thu nh\u1eadp kh\u00e1c v\u00e0 chi ph\u00ed kh\u00f4ng \u0111\u01b0\u1ee3c tr\u1eeb), doanh nghi\u1ec7p m\u1edbi c\u00f3 th\u1ec3 \u0111\u1ecbnh h\u00ecnh \u0111\u01b0\u1ee3c l\u1ed9 tr\u00ecnh chuy\u1ec3n ph\u00ed l\u00e3i vay trong c\u00e1c n\u0103m ti\u1ebfp theo.<\/span><\/p>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"EBITDA_am_co_duoc_chuyen_chi_phi_lai_vay\"><\/span><b>EBITDA \u00e2m c\u00f3 \u0111\u01b0\u1ee3c chuy\u1ec3n chi ph\u00ed l\u00e3i vay?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">\u0110\u00e2y l\u00e0 n\u1ed9i dung tr\u1ecdng t\u00e2m m\u00e0 m\u1ecdi k\u1ebf to\u00e1n tr\u01b0\u1edfng \u0111\u1ec1u c\u1ea7n n\u1eafm v\u1eefng \u0111\u1ec3 gi\u1ea3i tr\u00ecnh tr\u01b0\u1edbc c\u01a1 quan thu\u1ebf. MAN &#8211; Master Accountant Network s\u1ebd b\u00f3c t\u00e1ch v\u1ea5n \u0111\u1ec1 th\u00e0nh hai l\u1edbp: L\u1edbp th\u1ef1c t\u1ea1i (n\u0103m ph\u00e1t sinh) v\u00e0 L\u1edbp t\u01b0\u01a1ng lai (n\u0103m chuy\u1ec3n \u0111\u1ed5i).<\/span><\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Tai_sao_EBITDA_am_lai_dan_den_chi_phi_lai_vay_bi_loai_ngay_lap_tuc\"><\/span><b>T\u1ea1i sao EBITDA \u00e2m l\u1ea1i d\u1eabn \u0111\u1ebfn chi ph\u00ed l\u00e3i vay b\u1ecb lo\u1ea1i ngay l\u1eadp t\u1ee9c?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">D\u1ef1a tr\u00ean Kho\u1ea3n 3, \u0110i\u1ec1u 16 c\u1ee7a Ngh\u1ecb \u0111\u1ecbnh 132\/2020\/N\u0110-CP, n\u1ebfu EBITDA c\u1ee7a doanh nghi\u1ec7p nh\u1ecf h\u01a1n ho\u1eb7c b\u1eb1ng 0, m\u1ee9c tr\u1ea7n chi ph\u00ed l\u00e3i vay \u0111\u01b0\u1ee3c tr\u1eeb trong k\u1ef3 c\u0169ng s\u1ebd m\u1eb7c \u0111\u1ecbnh b\u1eb1ng 0. Ch\u00ednh v\u00ec th\u1ebf, kh\u00f4ng bao gi\u1edd cho ra m\u1ed9t gi\u00e1 tr\u1ecb d\u01b0\u01a1ng \u0111\u1ec3 kh\u1ea5u tr\u1eeb.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">\u0110i\u1ec1u n\u00e0y c\u00f3 ngh\u0129a l\u00e0, trong n\u0103m t\u00e0i ch\u00ednh m\u00e0 doanh nghi\u1ec7p kinh doanh b\u1ebft b\u00e1t ho\u1eb7c \u0111ang trong giai \u0111o\u1ea1n \u0111\u1ea7u t\u01b0 m\u1ea1nh khi\u1ebfn chi ph\u00ed v\u1eadn h\u00e0nh v\u00e0 kh\u1ea5u hao cao h\u01a1n l\u1ee3i nhu\u1eadn, to\u00e0n b\u1ed9 ph\u1ea7n chi ph\u00ed l\u00e3i vay thu\u1ea7n ph\u00e1t sinh s\u1ebd b\u1ecb coi l\u00e0 chi ph\u00ed kh\u00f4ng \u0111\u01b0\u1ee3c tr\u1eeb khi quy\u1ebft to\u00e1n thu\u1ebf TNDN. Tuy nhi\u00ean, \u0111\u1eebng qu\u00e1 lo l\u1eafng v\u1ec1 vi\u1ec7c li\u1ec7u EBITDA \u00e2m c\u00f3 \u0111\u01b0\u1ee3c chuy\u1ec3n chi ph\u00ed l\u00e3i vay hay kh\u00f4ng, v\u00ec lu\u1eadt ph\u00e1p \u0111\u00e3 thi\u1ebft l\u1eadp c\u01a1 ch\u1ebf chuy\u1ec3n ti\u1ebfp \u0111\u1ec3 \u0111\u1ea3m b\u1ea3o quy\u1ec1n l\u1ee3i cho doanh nghi\u1ec7p trong d\u00e0i h\u1ea1n.<\/span><\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Co_che_chuyen_chi_phi_lai_vay_sang_ky_sau\"><\/span><b>C\u01a1 ch\u1ebf chuy\u1ec3n chi ph\u00ed l\u00e3i vay sang k\u1ef3 sau<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<figure id=\"attachment_3947\" aria-describedby=\"caption-attachment-3947\" style=\"width: 1200px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-3947\" src=\"https:\/\/giaodichlienket.man.net.vn\/wp-content\/uploads\/2026\/04\/EBITDA-am-co-duoc-chuyen-chi-phi-lai-vay-va-co-che-chuyen-chi-phi-lai-vay.jpg\" alt=\"EBITDA \u00e2m c\u00f3 \u0111\u01b0\u1ee3c chuy\u1ec3n chi ph\u00ed l\u00e3i vay v\u00e0 c\u01a1 ch\u1ebf chuy\u1ec3n chi ph\u00ed l\u00e3i vay\" width=\"1200\" height=\"675\" srcset=\"https:\/\/giaodichlienket.man.net.vn\/wp-content\/uploads\/2026\/04\/EBITDA-am-co-duoc-chuyen-chi-phi-lai-vay-va-co-che-chuyen-chi-phi-lai-vay.jpg 1200w, https:\/\/giaodichlienket.man.net.vn\/wp-content\/uploads\/2026\/04\/EBITDA-am-co-duoc-chuyen-chi-phi-lai-vay-va-co-che-chuyen-chi-phi-lai-vay-300x169.jpg 300w, https:\/\/giaodichlienket.man.net.vn\/wp-content\/uploads\/2026\/04\/EBITDA-am-co-duoc-chuyen-chi-phi-lai-vay-va-co-che-chuyen-chi-phi-lai-vay-1024x576.jpg 1024w, https:\/\/giaodichlienket.man.net.vn\/wp-content\/uploads\/2026\/04\/EBITDA-am-co-duoc-chuyen-chi-phi-lai-vay-va-co-che-chuyen-chi-phi-lai-vay-768x432.jpg 768w, https:\/\/giaodichlienket.man.net.vn\/wp-content\/uploads\/2026\/04\/EBITDA-am-co-duoc-chuyen-chi-phi-lai-vay-va-co-che-chuyen-chi-phi-lai-vay-18x10.jpg 18w\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\" \/><figcaption id=\"caption-attachment-3947\" class=\"wp-caption-text\">EBITDA \u00e2m c\u00f3 \u0111\u01b0\u1ee3c chuy\u1ec3n chi ph\u00ed l\u00e3i vay v\u00e0 c\u01a1 ch\u1ebf chuy\u1ec3n chi ph\u00ed l\u00e3i vay<\/figcaption><\/figure>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">H\u1ec7 th\u1ed1ng ph\u00e1p lu\u1eadt thu\u1ebf Vi\u1ec7t Nam kh\u00f4ng tri\u1ec7t ti\u00eau quy\u1ec1n l\u1ee3i c\u1ee7a doanh nghi\u1ec7p m\u1ed9t c\u00e1ch c\u1ef1c \u0111oan. Vi\u1ec7c EBITDA \u00e2m c\u00f3 \u0111\u01b0\u1ee3c chuy\u1ec3n chi ph\u00ed l\u00e3i vay \u0111\u00e3 \u0111\u01b0\u1ee3c kh\u1eb3ng \u0111\u1ecbnh r\u00f5 r\u00e0ng l\u00e0 <\/span><b>C\u00f3 ph\u01b0\u01a1ng \u00e1n x\u1eed l\u00fd.<\/b><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Theo quy \u0111\u1ecbnh, ph\u1ea7n chi ph\u00ed l\u00e3i vay v\u01b0\u1ee3t tr\u1ea7n (bao g\u1ed3m c\u1ea3 tr\u01b0\u1eddng h\u1ee3p v\u01b0\u1ee3t tr\u1ea7n do EBITDA \u00e2m ho\u1eb7c b\u1eb1ng 0) s\u1ebd \u0111\u01b0\u1ee3c k\u1ebft chuy\u1ec3n sang k\u1ef3 t\u00ednh thu\u1ebf ti\u1ebfp theo. C\u01a1 ch\u1ebf n\u00e0y t\u01b0\u01a1ng t\u1ef1 nh\u01b0 vi\u1ec7c chuy\u1ec3n l\u1ed7 trong thu\u1ebf TNDN nh\u01b0ng c\u00f3 c\u00e1c \u0111\u1eb7c th\u00f9 ri\u00eang bi\u1ec7t:<\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Th\u1eddi gian chuy\u1ec3n: Li\u00ean t\u1ee5c kh\u00f4ng qu\u00e1 05 n\u0103m k\u1ec3 t\u1eeb n\u0103m ti\u1ebfp sau n\u0103m ph\u00e1t sinh chi ph\u00ed l\u00e3i vay kh\u00f4ng \u0111\u01b0\u1ee3c tr\u1eeb.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">C\u00e1ch th\u1ee9c chuy\u1ec3n: Doanh nghi\u1ec7p s\u1ebd mang con s\u1ed1 chi ph\u00ed l\u00e3i vay b\u1ecb lo\u1ea1i c\u1ee7a n\u0103m c\u00f3 EBITDA \u00e2m sang n\u0103m c\u00f3 EBITDA d\u01b0\u01a1ng. T\u1ea1i n\u0103m ti\u1ebfp theo n\u00e0y, t\u1ed5ng c\u1ee7a chi ph\u00ed l\u00e3i vay ph\u00e1t sinh trong n\u0103m + Chi ph\u00ed l\u00e3i vay t\u1eeb n\u0103m EBITDA \u00e2m chuy\u1ec3n sang, ph\u1ea3i n\u1eb1m trong gi\u1edbi h\u1ea1n 30% EBITDA c\u1ee7a n\u0103m hi\u1ec7n t\u1ea1i.<\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Nh\u01b0 v\u1eady, EBITDA \u00e2m c\u00f3 \u0111\u01b0\u1ee3c chuy\u1ec3n chi ph\u00ed l\u00e3i vay kh\u00f4ng, h\u00e3y tr\u1ea3 l\u1eddi r\u1eb1ng \u0111\u00f3 l\u00e0 m\u1ed9t kho\u1ea3n &#8220;t\u00e0i s\u1ea3n thu\u1ebf ti\u1ec1m n\u0103ng&#8221; m\u00e0 doanh nghi\u1ec7p c\u1ea7n qu\u1ea3n tr\u1ecb ch\u1eb7t ch\u1ebd \u0111\u1ec3 \u0111\u01b0\u1ee3c ho\u00e0n l\u1ea1i d\u01b0\u1edbi d\u1ea1ng gi\u1ea3m s\u1ed1 thu\u1ebf ph\u1ea3i n\u1ed9p trong 5 n\u0103m k\u1ebf ti\u1ebfp.<\/span><\/p>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Nhung_diem_moi_tu_Nghi_dinh_202025ND-CP_anh_huong_den_viec_chuyen_chi_phi\"><\/span><b>Nh\u1eefng \u0111i\u1ec3m m\u1edbi t\u1eeb Ngh\u1ecb \u0111\u1ecbnh 20\/2025\/N\u0110-CP \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn vi\u1ec7c chuy\u1ec3n chi ph\u00ed<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<figure id=\"attachment_3946\" aria-describedby=\"caption-attachment-3946\" style=\"width: 1200px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-3946\" src=\"https:\/\/giaodichlienket.man.net.vn\/wp-content\/uploads\/2026\/04\/Nhung-diem-moi-tu-Nghi-dinh-20-ve-EBITDA-am-co-duoc-chuyen-chi-phi-lai-vay.jpg\" alt=\"Nh\u1eefng \u0111i\u1ec3m m\u1edbi t\u1eeb Ngh\u1ecb \u0111\u1ecbnh 20 v\u1ec1 EBITDA \u00e2m c\u00f3 \u0111\u01b0\u1ee3c chuy\u1ec3n chi ph\u00ed l\u00e3i vay\" width=\"1200\" height=\"675\" srcset=\"https:\/\/giaodichlienket.man.net.vn\/wp-content\/uploads\/2026\/04\/Nhung-diem-moi-tu-Nghi-dinh-20-ve-EBITDA-am-co-duoc-chuyen-chi-phi-lai-vay.jpg 1200w, https:\/\/giaodichlienket.man.net.vn\/wp-content\/uploads\/2026\/04\/Nhung-diem-moi-tu-Nghi-dinh-20-ve-EBITDA-am-co-duoc-chuyen-chi-phi-lai-vay-300x169.jpg 300w, https:\/\/giaodichlienket.man.net.vn\/wp-content\/uploads\/2026\/04\/Nhung-diem-moi-tu-Nghi-dinh-20-ve-EBITDA-am-co-duoc-chuyen-chi-phi-lai-vay-1024x576.jpg 1024w, https:\/\/giaodichlienket.man.net.vn\/wp-content\/uploads\/2026\/04\/Nhung-diem-moi-tu-Nghi-dinh-20-ve-EBITDA-am-co-duoc-chuyen-chi-phi-lai-vay-768x432.jpg 768w, https:\/\/giaodichlienket.man.net.vn\/wp-content\/uploads\/2026\/04\/Nhung-diem-moi-tu-Nghi-dinh-20-ve-EBITDA-am-co-duoc-chuyen-chi-phi-lai-vay-18x10.jpg 18w\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\" \/><figcaption id=\"caption-attachment-3946\" class=\"wp-caption-text\">Nh\u1eefng \u0111i\u1ec3m m\u1edbi t\u1eeb Ngh\u1ecb \u0111\u1ecbnh 20 v\u1ec1 EBITDA \u00e2m c\u00f3 \u0111\u01b0\u1ee3c chuy\u1ec3n chi ph\u00ed l\u00e3i vay<\/figcaption><\/figure>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Ngh\u1ecb \u0111\u1ecbnh n\u00e0y mang l\u1ea1i ba thay \u0111\u1ed5i mang t\u00ednh b\u01b0\u1edbc ngo\u1eb7t cho vi\u1ec7c EBITDA \u00e2m c\u00f3 \u0111\u01b0\u1ee3c chuy\u1ec3n chi ph\u00ed l\u00e3i vay:<\/span><\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Quy_tac_FIFO_trong_chuyen_doi_lai_vay\"><\/span><b>Quy t\u1eafc FIFO trong chuy\u1ec3n \u0111\u1ed5i l\u00e3i vay<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Ngh\u1ecb \u0111\u1ecbnh 20\/2025 l\u00e0m r\u00f5 vi\u1ec7c \u00e1p d\u1ee5ng quy t\u1eafc V\u00e0o tr\u01b0\u1edbc &#8211; Ra tr\u01b0\u1edbc (First-In, First-Out) cho c\u00e1c kho\u1ea3n chi ph\u00ed l\u00e3i vay b\u1ecb lo\u1ea1i. \u0110i\u1ec1u n\u00e0y c\u1ef1c k\u1ef3 c\u00f3 l\u1ee3i cho nh\u1eefng doanh nghi\u1ec7p c\u00f3 chu k\u1ef3 EBITDA \u00e2m k\u00e9o d\u00e0i. Vi\u1ec7c \u01b0u ti\u00ean chuy\u1ec3n c\u00e1c kho\u1ea3n l\u00e3i vay c\u0169 nh\u1ea5t gi\u00fap gi\u1ea3m thi\u1ec3u r\u1ee7i ro c\u00e1c kho\u1ea3n n\u00e0y b\u1ecb h\u1ebft h\u1ea1n 5 n\u0103m.<\/span><\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Loai_tru_thu_nhap_bat_thuong\"><\/span><b>Lo\u1ea1i tr\u1eeb thu nh\u1eadp b\u1ea5t th\u01b0\u1eddng<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">\u0110\u1ec3 b\u1ea3o v\u1ec7 doanh nghi\u1ec7p tr\u01b0\u1edbc t\u00ecnh tr\u1ea1ng EBITDA bi\u1ebfn \u0111\u1ed9ng m\u1ea1nh do thanh l\u00fd t\u00e0i s\u1ea3n ho\u1eb7c thu nh\u1eadp kh\u00e1c, Ngh\u1ecb \u0111\u1ecbnh 20\/2025 h\u01b0\u1edbng d\u1eabn ch\u1ec9 t\u00ednh EBITDA d\u1ef1a tr\u00ean l\u1ee3i nhu\u1eadn thu\u1ea7n t\u1eeb ho\u1ea1t \u0111\u1ed9ng kinh doanh c\u1ed1t l\u00f5i. S\u1ef1 thay \u0111\u1ed5i n\u00e0y gi\u00fap ch\u1ec9 s\u1ed1 EBITDA tr\u1edf n\u00ean \u1ed5n \u0111\u1ecbnh v\u00e0 d\u1ef1 b\u00e1o \u0111\u01b0\u1ee3c.<\/span><\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Noi_long_cho_cac_don_vi_ha_tang_va_uu_dai_chinh_phu\"><\/span><b>N\u1edbi l\u1ecfng cho c\u00e1c \u0111\u01a1n v\u1ecb h\u1ea1 t\u1ea7ng v\u00e0 \u01b0u \u0111\u00e3i ch\u00ednh ph\u1ee7<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">C\u00e1c d\u1ef1 \u00e1n tr\u1ecdng \u0111i\u1ec3m qu\u1ed1c gia th\u01b0\u1eddng c\u00f3 EBITDA \u00e2m trong 3 &#8211; 7 n\u0103m \u0111\u1ea7u. Ngh\u1ecb \u0111\u1ecbnh 20\/2025 \u0111\u00e3 m\u1edf ra c\u01a1 ch\u1ebf mi\u1ec5n tr\u1eeb kh\u1ed1ng ch\u1ebf tr\u1ea7n l\u00e3i vay cho m\u1ed9t s\u1ed1 \u0111\u1ed1i t\u01b0\u1ee3ng c\u1ee5 th\u1ec3. \u0110\u1ed1i v\u1edbi c\u00e1c \u0111\u01a1n v\u1ecb n\u00e0y, h\u1ecd th\u1eadm ch\u00ed kh\u00f4ng c\u1ea7n lo l\u1eafng EBITDA \u00e2m c\u00f3 \u0111\u01b0\u1ee3c chuy\u1ec3n chi ph\u00ed l\u00e3i vay hay kh\u00f4ng, v\u00ec h\u1ecd \u0111\u01b0\u1ee3c tr\u1eeb 100% chi ph\u00ed l\u00e3i vay ph\u00e1t sinh n\u1ebfu \u0111\u00e1p \u1ee9ng \u0111\u1ee7 c\u00e1c \u0111i\u1ec1u ki\u1ec7n v\u1ec1 gi\u1ea3i ng\u00e2n v\u1ed1n \u0111\u1ea7u t\u01b0 c\u00f4ng ho\u1eb7c vay v\u1ed1n ODA.<\/span><\/p>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Nhung_rui_ro_tiem_an_va_sai_lam_thuong_gap_khi_chuyen_chi_phi_lai_vay\"><\/span><b>Nh\u1eefng r\u1ee7i ro ti\u1ec1m \u1ea9n v\u00e0 sai l\u1ea7m th\u01b0\u1eddng g\u1eb7p khi chuy\u1ec3n chi ph\u00ed l\u00e3i vay<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<figure id=\"attachment_3945\" aria-describedby=\"caption-attachment-3945\" style=\"width: 1200px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-3945\" src=\"https:\/\/giaodichlienket.man.net.vn\/wp-content\/uploads\/2026\/04\/Nhung-rui-ro-tiem-an-va-sai-lam-thuong-gap-ve-EBITDA-am-co-duoc-chuyen-chi-phi-lai-vay.jpg\" alt=\"Nh\u1eefng r\u1ee7i ro ti\u1ec1m \u1ea9n v\u00e0 sai l\u1ea7m th\u01b0\u1eddng g\u1eb7p v\u1ec1 EBITDA \u00e2m c\u00f3 \u0111\u01b0\u1ee3c chuy\u00ean chi ph\u00ed l\u00e3i vay\" width=\"1200\" height=\"675\" srcset=\"https:\/\/giaodichlienket.man.net.vn\/wp-content\/uploads\/2026\/04\/Nhung-rui-ro-tiem-an-va-sai-lam-thuong-gap-ve-EBITDA-am-co-duoc-chuyen-chi-phi-lai-vay.jpg 1200w, https:\/\/giaodichlienket.man.net.vn\/wp-content\/uploads\/2026\/04\/Nhung-rui-ro-tiem-an-va-sai-lam-thuong-gap-ve-EBITDA-am-co-duoc-chuyen-chi-phi-lai-vay-300x169.jpg 300w, https:\/\/giaodichlienket.man.net.vn\/wp-content\/uploads\/2026\/04\/Nhung-rui-ro-tiem-an-va-sai-lam-thuong-gap-ve-EBITDA-am-co-duoc-chuyen-chi-phi-lai-vay-1024x576.jpg 1024w, https:\/\/giaodichlienket.man.net.vn\/wp-content\/uploads\/2026\/04\/Nhung-rui-ro-tiem-an-va-sai-lam-thuong-gap-ve-EBITDA-am-co-duoc-chuyen-chi-phi-lai-vay-768x432.jpg 768w, https:\/\/giaodichlienket.man.net.vn\/wp-content\/uploads\/2026\/04\/Nhung-rui-ro-tiem-an-va-sai-lam-thuong-gap-ve-EBITDA-am-co-duoc-chuyen-chi-phi-lai-vay-18x10.jpg 18w\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\" \/><figcaption id=\"caption-attachment-3945\" class=\"wp-caption-text\">Nh\u1eefng r\u1ee7i ro ti\u1ec1m \u1ea9n v\u00e0 sai l\u1ea7m th\u01b0\u1eddng g\u1eb7p v\u1ec1 EBITDA \u00e2m c\u00f3 \u0111\u01b0\u1ee3c chuy\u00ean chi ph\u00ed l\u00e3i vay<\/figcaption><\/figure>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Vi\u1ec7c EBITDA \u00e2m c\u00f3 \u0111\u01b0\u1ee3c chuy\u1ec3n chi ph\u00ed l\u00e3i vay l\u00e0 c\u00f3 nh\u01b0ng con \u0111\u01b0\u1eddng th\u1ef1c hi\u1ec7n l\u1ea1i ch\u1ee9a \u0111\u1ef1ng nhi\u1ec1u b\u1eaby ph\u00e1p l\u00fd:<\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Kh\u00f4ng k\u00ea khai v\u00e0o M\u1eabu 01: N\u1ebfu doanh nghi\u1ec7p kh\u00f4ng ph\u1ea3n \u00e1nh ph\u1ea7n l\u00e3i vay b\u1ecb lo\u1ea1i v\u00e0o ph\u1ee5 l\u1ee5c giao d\u1ecbch li\u00ean k\u1ebft ngay t\u1eeb n\u0103m c\u00f3 EBITDA \u00e2m, c\u01a1 quan thu\u1ebf c\u00f3 quy\u1ec1n t\u1eeb ch\u1ed1i cho chuy\u1ec3n v\u00e0o c\u00e1c n\u0103m sau v\u1edbi l\u00fd do l\u00e0 kh\u00f4ng c\u00f3 s\u1ed1 d\u01b0 \u0111\u1ea7u k\u1ef3.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Nh\u1ea7m l\u1eabn gi\u1eefa EBITDA k\u1ebf to\u00e1n v\u00e0 EBITDA thu\u1ebf: Vi\u1ec7c s\u1eed d\u1ee5ng EBITDA tr\u00ean b\u00e1o c\u00e1o t\u00e0i ch\u00ednh \u0111\u1ec3 t\u00ednh tr\u1ea7n 30% l\u00e0 l\u1ed7i ph\u1ed5 bi\u1ebfn nh\u1ea5t. N\u1ebfu EBITDA th\u1ef1c t\u1ebf (sau khi \u0111i\u1ec1u ch\u1ec9nh thu\u1ebf) l\u00e0 \u00e2m m\u00e0 doanh nghi\u1ec7p v\u1eabn t\u1ef1 tin kh\u1ea5u tr\u1eeb d\u1ef1a tr\u00ean EBITDA k\u1ebf to\u00e1n d\u01b0\u01a1ng, r\u1ee7i ro truy thu v\u00e0 ph\u1ea1t ch\u1eadm n\u1ed9p l\u00e0 c\u1ef1c l\u1edbn.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">H\u1ebft h\u1ea1n 5 n\u0103m: Nhi\u1ec1u k\u1ebf to\u00e1n kh\u00f4ng theo d\u00f5i s\u00e1t sao th\u1eddi h\u1ea1n chuy\u1ec3n ph\u00ed. Sau n\u0103m th\u1ee9 5, n\u1ebfu ph\u1ea7n chi ph\u00ed l\u00e3i vay t\u1eeb n\u0103m c\u00f3 EBITDA \u00e2m c\u00f3 \u0111\u01b0\u1ee3c chuy\u1ec3n chi ph\u00ed l\u00e3i vay v\u1eabn ch\u01b0a d\u00f9ng h\u1ebft, doanh nghi\u1ec7p bu\u1ed9c ph\u1ea3i x\u00f3a b\u1ecf s\u1ed1 d\u01b0 n\u00e0y, g\u00e2y thi\u1ec7t h\u1ea1i t\u00e0i ch\u00ednh kh\u00f4ng \u0111\u00e1ng c\u00f3.<\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">\u0110\u1ec3 \u0111\u1ea3m b\u1ea3o an to\u00e0n t\u1ed1i \u0111a v\u00e0 t\u1ed1i \u01b0u s\u1ed1 thu\u1ebf ph\u1ea3i n\u1ed9p, doanh nghi\u1ec7p n\u00ean tham kh\u1ea3o <\/span><strong><span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https:\/\/giaodichlienket.man.net.vn\/dich-vu-tu-van-giao-dich-lien-ket\/\">d\u1ecbch v\u1ee5 t\u01b0 v\u1ea5n giao d\u1ecbch li\u00ean k\u1ebft<\/a><\/span><\/strong><span style=\"font-weight: 400;\"> t\u1eeb c\u00e1c \u0111\u01a1n v\u1ecb chuy\u00ean tr\u00e1ch v\u00e0 c\u00f3 kinh nghi\u1ec7m \u0111\u1ec3 \u0111\u01b0\u1ee3c th\u1ef1c hi\u1ec7n r\u00e0 so\u00e1t c\u00e1c sai s\u00f3t.<\/span><\/p>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Chien_luoc_toi_uu_hoa_cau_truc_tai_chinh_cho_doanh_nghiep_co_EBITDA_thap\"><\/span><b>Chi\u1ebfn l\u01b0\u1ee3c t\u1ed1i \u01b0u h\u00f3a c\u1ea5u tr\u00fac t\u00e0i ch\u00ednh cho doanh nghi\u1ec7p c\u00f3 EBITDA th\u1ea5p<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">\u0110\u1ec3 ch\u1ee7 \u0111\u1ed9ng tr\u01b0\u1edbc v\u1ea5n \u0111\u1ec1 EBITDA \u00e2m c\u00f3 \u0111\u01b0\u1ee3c chuy\u1ec3n chi ph\u00ed l\u00e3i vay, \u0111\u1ed9i ng\u0169 chuy\u00ean gia chuy\u1ec3n gi\u00e1 c\u1ee7a MAN &#8211; Master Accountant Network khuy\u1ebfn ngh\u1ecb doanh nghi\u1ec7p n\u00ean th\u1ef1c hi\u1ec7n c\u00e1c b\u01b0\u1edbc sau:<\/span><\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Can_doi_giua_no_vay_va_von_chu_so_huu\"><\/span><b>C\u00e2n \u0111\u1ed1i gi\u1eefa n\u1ee3 vay v\u00e0 v\u1ed1n ch\u1ee7 s\u1edf h\u1eefu<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">N\u1ebfu d\u1ef1 b\u00e1o doanh nghi\u1ec7p s\u1ebd c\u00f3 EBITDA \u00e2m d\u00e0i h\u1ea1n, vi\u1ec7c huy \u0111\u1ed9ng v\u1ed1n qua h\u00ecnh th\u1ee9c vay n\u1ee3 (\u0111\u1eb7c bi\u1ec7t l\u00e0 vay t\u1eeb c\u00f4ng ty m\u1eb9) s\u1ebd kh\u00f4ng mang l\u1ea1i l\u1ee3i \u00edch v\u1ec1 thu\u1ebf. Thay v\u00e0o \u0111\u00f3, vi\u1ec7c t\u0103ng v\u1ed1n \u0111i\u1ec1u l\u1ec7 ho\u1eb7c s\u1eed d\u1ee5ng c\u00e1c h\u00ecnh th\u1ee9c thu\u00ea t\u00e0i ch\u00ednh (t\u00f9y \u0111i\u1ec1u ki\u1ec7n) c\u00f3 th\u1ec3 l\u00e0 gi\u1ea3i ph\u00e1p th\u00f4ng minh h\u01a1n \u0111\u1ec3 tr\u00e1nh vi\u1ec7c chi ph\u00ed b\u1ecb &#8220;treo&#8221; qu\u00e1 l\u00e2u.<\/span><\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Tan_dung_toi_da_lai_tien_gui_de_tang_du_dia_khau_tru\"><\/span><b>T\u1eadn d\u1ee5ng t\u1ed1i \u0111a l\u00e3i ti\u1ec1n g\u1eedi \u0111\u1ec3 t\u0103ng d\u01b0 \u0111\u1ecba kh\u1ea5u tr\u1eeb<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">V\u00ec c\u00f4ng th\u1ee9c t\u00ednh l\u00e0 &#8220;chi ph\u00ed l\u00e3i vay thu\u1ea7n&#8221; (l\u00e3i cho vay ho\u1eb7c l\u00e3i ti\u1ec1n g\u1eedi), doanh nghi\u1ec7p c\u00f3 th\u1ec3 t\u1ed1i \u01b0u h\u00f3a d\u00f2ng ti\u1ec1n nh\u00e0n r\u1ed7i \u0111\u1ec3 t\u1ea1o doanh thu t\u00e0i ch\u00ednh. Vi\u1ec7c n\u00e0y gi\u00fap gi\u1ea3m t\u1eed s\u1ed1 c\u1ee7a ph\u00e9p t\u00ednh, t\u1eeb \u0111\u00f3 gi\u00e1n ti\u1ebfp gi\u00fap cho ph\u1ea7n chi ph\u00ed l\u00e3i vay khi EBITDA \u00e2m c\u00f3 \u0111\u01b0\u1ee3c chuy\u1ec3n chi ph\u00ed l\u00e3i vay d\u1ec5 d\u00e0ng \u0111\u01b0\u1ee3c &#8220;h\u1ea5p th\u1ee5&#8221; h\u1ebft v\u00e0o c\u00e1c n\u0103m EBITDA d\u01b0\u01a1ng.<\/span><\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Thiet_lap_he_thong_theo_doi_lai_vay_biet_lap\"><\/span><b>Thi\u1ebft l\u1eadp h\u1ec7 th\u1ed1ng theo d\u00f5i l\u00e3i vay bi\u1ec7t l\u1eadp<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Doanh nghi\u1ec7p c\u1ea7n x\u00e2y d\u1ef1ng m\u1ed9t b\u1ea3ng theo d\u00f5i ri\u00eang cho chi ph\u00ed l\u00e3i vay b\u1ecb lo\u1ea1i, t\u01b0\u01a1ng t\u1ef1 nh\u01b0 b\u1ea3ng theo d\u00f5i l\u1ed7. B\u1ea3ng n\u00e0y ph\u1ea3i chi ti\u1ebft theo t\u1eebng n\u0103m ph\u00e1t sinh, s\u1ed1 \u0111\u00e3 chuy\u1ec3n, s\u1ed1 c\u00f2n l\u1ea1i v\u00e0 th\u1eddi h\u1ea1n h\u1ebft h\u1ea1n. \u0110\u00e2y l\u00e0 b\u1eb1ng ch\u1ee9ng quan tr\u1ecdng nh\u1ea5t khi l\u00e0m vi\u1ec7c v\u1edbi thanh tra thu\u1ebf v\u1ec1 ch\u1ee7 \u0111\u1ec1 EBITDA \u00e2m c\u00f3 \u0111\u01b0\u1ee3c chuy\u1ec3n chi ph\u00ed l\u00e3i vay.<\/span><\/p>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Ket_luan\"><\/span><b>K\u1ebft lu\u1eadn<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">EBITDA \u00e2m c\u00f3 \u0111\u01b0\u1ee3c chuy\u1ec3n chi ph\u00ed l\u00e3i vay kh\u00f4ng, kh\u00f4ng ch\u1ec9 l\u00e0 m\u1ed9t v\u1ea5n \u0111\u1ec1 k\u1ef9 thu\u1eadt trong quy\u1ebft to\u00e1n thu\u1ebf TNDN, m\u00e0 c\u00f2n l\u00e0 th\u01b0\u1edbc \u0111o n\u0103ng l\u1ef1c qu\u1ea3n tr\u1ecb t\u00e0i ch\u00ednh v\u00e0 ki\u1ec3m so\u00e1t r\u1ee7i ro thu\u1ebf c\u1ee7a doanh nghi\u1ec7p c\u00f3 giao d\u1ecbch li\u00ean k\u1ebft. Khi EBITDA \u00e2m, chi ph\u00ed l\u00e3i vay kh\u00f4ng m\u1ea5t \u0111i ho\u00e0n to\u00e0n m\u00e0 v\u1eabn c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c k\u1ebft chuy\u1ec3n t\u1ed1i \u0111a 05 n\u0103m theo quy \u0111\u1ecbnh t\u1ea1i Ngh\u1ecb \u0111\u1ecbnh 132\/2020\/N\u0110-CP v\u00e0 c\u1eadp nh\u1eadt t\u1eeb Ngh\u1ecb \u0111\u1ecbnh 20\/2025\/N\u0110-CP, n\u1ebfu doanh nghi\u1ec7p k\u00ea khai \u0111\u00fang, theo d\u00f5i \u0111\u1ea7y \u0111\u1ee7 v\u00e0 c\u00f3 chi\u1ebfn l\u01b0\u1ee3c s\u1eed d\u1ee5ng h\u1ee3p l\u00fd.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Tuy nhi\u00ean, ch\u1ec9 m\u1ed9t sai s\u00f3t nh\u1ecf trong vi\u1ec7c x\u00e1c \u0111\u1ecbnh EBITDA t\u00ednh thu\u1ebf, k\u00ea khai ph\u1ee5 l\u1ee5c giao d\u1ecbch li\u00ean k\u1ebft hay ki\u1ec3m so\u00e1t th\u1eddi h\u1ea1n chuy\u1ec3n 5 n\u0103m c\u0169ng c\u00f3 th\u1ec3 khi\u1ebfn doanh nghi\u1ec7p m\u1ea5t \u0111i kho\u1ea3n kh\u1ea5u tr\u1eeb. V\u00ec v\u1eady, thay v\u00ec x\u1eed l\u00fd b\u1ecb \u0111\u1ed9ng khi c\u01a1 quan thu\u1ebf thanh tra, doanh nghi\u1ec7p n\u00ean ch\u1ee7 \u0111\u1ed9ng r\u00e0 so\u00e1t c\u1ea5u tr\u00fac v\u1ed1n, ki\u1ec3m tra gi\u1edbi h\u1ea1n chi ph\u00ed l\u00e3i vay ngay t\u1eeb \u0111\u1ea7u n\u0103m v\u00e0 x\u00e2y d\u1ef1ng h\u1ec7 th\u1ed1ng theo d\u00f5i ri\u00eang cho t\u1eebng kho\u1ea3n l\u00e3i vay b\u1ecb lo\u1ea1i.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">N\u1ebfu doanh nghi\u1ec7p \u0111ang g\u1eb7p v\u01b0\u1edbng m\u1eafc v\u1ec1 gi\u1edbi h\u1ea1n chi ph\u00ed l\u00e3i vay, h\u1ed3 s\u01a1 giao d\u1ecbch li\u00ean k\u1ebft ho\u1eb7c c\u1ea7n t\u01b0 v\u1ea5n t\u1ed1i \u01b0u thu\u1ebf giao d\u1ecbch li\u00ean k\u1ebft, h\u00e3y k\u1ebft n\u1ed1i v\u1edbi \u0111\u1ed9i ng\u0169 chuy\u00ean gia t\u01b0 v\u1ea5n thu\u1ebf v\u00e0 chuy\u1ec3n gi\u00e1 c\u1ee7a MAN &#8211; Master Accountant Network \u0111\u1ec3 \u0111\u01b0\u1ee3c h\u1ed7 tr\u1ee3 chuy\u00ean s\u00e2u, h\u1ea1n ch\u1ebf r\u1ee7i ro truy thu v\u00e0 b\u1ea3o v\u1ec7 t\u1ed1i \u0111a quy\u1ec1n l\u1ee3i thu\u1ebf h\u1ee3p ph\u00e1p trong d\u00e0i h\u1ea1n.\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\"><span style=\"color: #0000ff;\"><strong><a style=\"color: #0000ff;\" href=\"https:\/\/giaodichlienket.man.net.vn\/lien-he\/\">Li\u00ean h\u1ec7 MAN &#8211; Master Accountant Network<\/a><\/strong><\/span> \u0111\u1ec3 \u0111\u01b0\u1ee3c t\u01b0 v\u1ea5n mi\u1ec5n ph\u00ed!<\/span><\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Thong_tin_lien_he_MAN_%E2%80%93_Master_Accountant_Network\"><\/span><b>Th\u00f4ng tin li\u00ean h\u1ec7 MAN &#8211; Master Accountant Network<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">\u0110\u1ecba ch\u1ec9: S\u1ed1 19A, \u0111\u01b0\u1eddng 43, ph\u01b0\u1eddng T\u00e2n Thu\u1eadn, TP. H\u1ed3 Ch\u00ed Minh<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Mobile\/Zalo: 0903 963 163 \u2013 0903 428 622<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Email: man@man.net.vn<\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Ph\u1ee5 tr\u00e1ch s\u1ea3n xu\u1ea5t n\u1ed9i dung b\u1edfi: \u00d4ng <\/span><strong><span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https:\/\/man.net.vn\/le-hoang-tuyen\/\" rel=\"nofollow noopener\" target=\"_blank\">L\u00ea Ho\u00e0ng Tuy\u00ean<\/a><\/span><\/strong><span style=\"font-weight: 400;\"> \u2013 S\u00e1ng l\u1eadp vi\u00ean (Founder) v\u00e0 CEO MAN \u2013 Master Accountant Network, Ki\u1ec3m to\u00e1n vi\u00ean CPA Vi\u1ec7t Nam v\u1edbi h\u01a1n 30 n\u0103m kinh nghi\u1ec7m trong ng\u00e0nh K\u1ebf to\u00e1n, Ki\u1ec3m to\u00e1n v\u00e0 T\u01b0 v\u1ea5n T\u00e0i ch\u00ednh.<\/span><\/p>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Cau_hoi_thuong_gap_ve_EBITDA_am_co_duoc_chuyen_chi_phi_lai_vay\"><\/span><b>C\u00e2u h\u1ecfi th\u01b0\u1eddng g\u1eb7p v\u1ec1 EBITDA \u00e2m c\u00f3 \u0111\u01b0\u1ee3c chuy\u1ec3n chi ph\u00ed l\u00e3i vay<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\">        <section class=\"sc_fs_faq sc_card \">\n            <div>\n\t\t\t\t<h3><span class=\"ez-toc-section\" id=\"Neu_EBITDA_am_nhung_cong_ty_me_cho_vay_khong_lai_suat_0_thi_co_xay_ra_van_de_gi_khong\"><\/span>N\u1ebfu EBITDA \u00e2m nh\u01b0ng c\u00f4ng ty m\u1eb9 cho vay kh\u00f4ng l\u00e3i su\u1ea5t (0%) th\u00ec c\u00f3 x\u1ea3y ra v\u1ea5n \u0111\u1ec1 g\u00ec kh\u00f4ng?<span class=\"ez-toc-section-end\"><\/span><\/h3>                <div>\n\t\t\t\t\t                    <p>\n\t\t\t\t\t\tC\u00f3. Theo nguy\u00ean t\u1eafc giao d\u1ecbch \u0111\u1ed9c l\u1eadp, c\u01a1 quan thu\u1ebf c\u00f3 quy\u1ec1n \u1ea5n \u0111\u1ecbnh m\u1ee9c l\u00e3i su\u1ea5t th\u1ecb tr\u01b0\u1eddng cho c\u00e1c kho\u1ea3n vay 0% gi\u1eefa c\u00e1c b\u00ean li\u00ean k\u1ebft. Khi \u0111\u00f3, doanh nghi\u1ec7p s\u1ebd ph\u00e1t sinh chi ph\u00ed l\u00e3i vay \u1ea5n \u0111\u1ecbnh, v\u00e0 v\u00ec EBITDA \u00e2m, to\u00e0n b\u1ed9 chi ph\u00ed n\u00e0y l\u1ea1i ti\u1ebfp t\u1ee5c b\u1ecb lo\u1ea1i v\u00e0 ph\u1ea3i ch\u1edd chuy\u1ec3n sang k\u1ef3 sau.                    <\/p>\n                <\/div>\n            <\/div>\n        <\/section>\n\t\t        <section class=\"sc_fs_faq sc_card \">\n            <div>\n\t\t\t\t<h3><span class=\"ez-toc-section\" id=\"Chi_phi_lai_vay_tu_nam_co_EBITDA_am_co_duoc_chuyen_sang_nam_doanh_nghiep_dang_duoc_mien_thue_100_khong\"><\/span>Chi ph\u00ed l\u00e3i vay t\u1eeb n\u0103m c\u00f3 EBITDA \u00e2m c\u00f3 \u0111\u01b0\u1ee3c chuy\u1ec3n sang n\u0103m doanh nghi\u1ec7p \u0111ang \u0111\u01b0\u1ee3c mi\u1ec5n thu\u1ebf 100% kh\u00f4ng?<span class=\"ez-toc-section-end\"><\/span><\/h3>                <div>\n\t\t\t\t\t                    <p>\n\t\t\t\t\t\t\u0110\u01b0\u1ee3c, vi\u1ec7c chuy\u1ec3n chi ph\u00ed l\u00e3i vay v\u00e0o n\u0103m \u0111ang \u0111\u01b0\u1ee3c mi\u1ec5n thu\u1ebf s\u1ebd l\u00e0m l\u00e3ng ph\u00ed quy\u1ec1n l\u1ee3i kh\u1ea5u tr\u1eeb c\u1ee7a ch\u00ednh doanh nghi\u1ec7p. N\u1ebfu c\u00f3 th\u1ec3, h\u00e3y c\u00e2n nh\u1eafc \u0111i\u1ec1u ch\u1ec9nh k\u1ebf ho\u1ea1ch kinh doanh \u0111\u1ec3 d\u1ed3n c\u00e1c kho\u1ea3n kh\u1ea5u tr\u1eeb n\u00e0y v\u00e0o nh\u1eefng n\u0103m b\u1eaft \u0111\u1ea7u n\u1ed9p thu\u1ebf 100% ho\u1eb7c n\u0103m ch\u1ec9 \u0111\u01b0\u1ee3c gi\u1ea3m 50% thu\u1ebf.                    <\/p>\n                <\/div>\n            <\/div>\n        <\/section>\n\t\t        <section class=\"sc_fs_faq sc_card \">\n            <div>\n\t\t\t\t<h3><span class=\"ez-toc-section\" id=\"Nghi_dinh_202025_co_hoi_to_cho_cac_nam_EBITDA_am_truoc_do_khong\"><\/span>Ngh\u1ecb \u0111\u1ecbnh 20\/2025 c\u00f3 h\u1ed3i t\u1ed1 cho c\u00e1c n\u0103m EBITDA \u00e2m tr\u01b0\u1edbc \u0111\u00f3 kh\u00f4ng?<span class=\"ez-toc-section-end\"><\/span><\/h3>                <div>\n\t\t\t\t\t                    <p>\n\t\t\t\t\t\tTh\u00f4ng th\u01b0\u1eddng c\u00e1c quy \u0111\u1ecbnh v\u1ec1 chuy\u1ec3n chi ph\u00ed s\u1ebd \u00e1p d\u1ee5ng cho s\u1ed1 d\u01b0 \u0111ang c\u00f2n trong th\u1eddi h\u1ea1n 5 n\u0103m t\u1ea1i th\u1eddi \u0111i\u1ec3m Ngh\u1ecb \u0111\u1ecbnh c\u00f3 hi\u1ec7u l\u1ef1c. Doanh nghi\u1ec7p c\u1ea7n \u0111\u1ed1i so\u00e1t k\u1ef9 \u0111i\u1ec1u kho\u1ea3n chuy\u1ec3n ti\u1ebfp c\u1ee7a Ngh\u1ecb \u0111\u1ecbnh 20\/2025 \u0111\u1ec3 \u0111\u1ea3m b\u1ea3o kh\u00f4ng b\u1ecf s\u00f3t quy\u1ec1n l\u1ee3i khi EBITDA \u00e2m c\u00f3 \u0111\u01b0\u1ee3c chuy\u1ec3n chi ph\u00ed l\u00e3i vay.                    <\/p>\n                <\/div>\n            <\/div>\n        <\/section>\n\t\t\n<script type=\"application\/ld+json\">\n    {\n\t\t\"@context\": \"https:\/\/schema.org\",\n\t\t\"@type\": \"FAQPage\",\n\t\t\"mainEntity\": [\n\t\t\t\t{\n\t\t\t\t\"@type\": \"Question\",\n\t\t\t\t\"name\": \"N\u1ebfu EBITDA \u00e2m nh\u01b0ng c\u00f4ng ty m\u1eb9 cho vay kh\u00f4ng l\u00e3i su\u1ea5t (0%) th\u00ec c\u00f3 x\u1ea3y ra v\u1ea5n \u0111\u1ec1 g\u00ec kh\u00f4ng?\",\n\t\t\t\t\"acceptedAnswer\": {\n\t\t\t\t\t\"@type\": \"Answer\",\n\t\t\t\t\t\"text\": \"C\u00f3. 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Doanh nghi\u1ec7p c\u1ea7n \u0111\u1ed1i so\u00e1t k\u1ef9 \u0111i\u1ec1u kho\u1ea3n chuy\u1ec3n ti\u1ebfp c\u1ee7a Ngh\u1ecb \u0111\u1ecbnh 20\/2025 \u0111\u1ec3 \u0111\u1ea3m b\u1ea3o kh\u00f4ng b\u1ecf s\u00f3t quy\u1ec1n l\u1ee3i khi EBITDA \u00e2m c\u00f3 \u0111\u01b0\u1ee3c chuy\u1ec3n chi ph\u00ed l\u00e3i vay.\"\n\t\t\t\t\t\t\t\t\t}\n\t\t\t}\n\t\t\t\t    ]\n}\n<\/script>\n\n","protected":false},"excerpt":{"rendered":"<p>EBITDA \u00e2m c\u00f3 \u0111\u01b0\u1ee3c chuy\u1ec3n chi ph\u00ed l\u00e3i vay kh\u00f4ng? L\u00e0 c\u00e2u h\u1ecfi khi\u1ebfn nhi\u1ec1u CFO, k\u1ebf to\u00e1n tr\u01b0\u1edfng v\u00e0 doanh nghi\u1ec7p c\u00f3 giao d\u1ecbch li\u00ean k\u1ebft \u0111\u1eb7c bi\u1ec7t quan t\u00e2m. Khi EBITDA nh\u1ecf h\u01a1n ho\u1eb7c b\u1eb1ng 0, to\u00e0n b\u1ed9 chi ph\u00ed l\u00e3i vay c\u00f3 th\u1ec3 b\u1ecb lo\u1ea1i kh\u1ecfi chi ph\u00ed \u0111\u01b0\u1ee3c tr\u1eeb, k\u00e9o theo [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":3944,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3943","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"acf":[],"_links":{"self":[{"href":"https:\/\/giaodichlienket.man.net.vn\/en\/wp-json\/wp\/v2\/posts\/3943","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/giaodichlienket.man.net.vn\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/giaodichlienket.man.net.vn\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/giaodichlienket.man.net.vn\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/giaodichlienket.man.net.vn\/en\/wp-json\/wp\/v2\/comments?post=3943"}],"version-history":[{"count":1,"href":"https:\/\/giaodichlienket.man.net.vn\/en\/wp-json\/wp\/v2\/posts\/3943\/revisions"}],"predecessor-version":[{"id":3948,"href":"https:\/\/giaodichlienket.man.net.vn\/en\/wp-json\/wp\/v2\/posts\/3943\/revisions\/3948"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/giaodichlienket.man.net.vn\/en\/wp-json\/wp\/v2\/media\/3944"}],"wp:attachment":[{"href":"https:\/\/giaodichlienket.man.net.vn\/en\/wp-json\/wp\/v2\/media?parent=3943"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/giaodichlienket.man.net.vn\/en\/wp-json\/wp\/v2\/categories?post=3943"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/giaodichlienket.man.net.vn\/en\/wp-json\/wp\/v2\/tags?post=3943"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}