Circular No. 135/2013/TT-BTC stipulates the pilot application of corporate income tax policy for microfinance organizations licensed by the State Bank of Vietnam before January 1, 2014. This document guides the tax rate, exemption and reduction periods, as well as the principles of application.
적용 범위
Microfinance organizations licensed by the State Bank of Vietnam before January 1, 2014
핵심 사항
- Microfinance organizations must pay corporate income tax at a rate of 20% throughout their operational period on income from microfinance activities (Article 2, Clause 1).
- Organizations are exempt from corporate income tax for the first two years and have their tax reduced by 50% for the next four years (Article 2, Clause 2).
- The tax exemption and reduction period is calculated continuously from the first year of generating taxable income from microfinance activities (Article 2, Clause 2).
- From January 1, 2016, the tax rate changes to 17% (Article 2, Clause 1).
- The principles, conditions, and procedures for applying tax exemption and reduction policies follow the regulations of the legal documents on corporate income tax and tax administration (Article 2, Clause 3).
🌐 이 문서의 사회적 영향
- Strengthening microfinance activities helps support individuals and small enterprises in difficult areas.
- Reducing the tax burden for microfinance organizations during the initial operational phase creates favorable conditions for development.
- Microfinance organizations must comply with annual reporting requirements for tax exemptions and reductions (Article 3, Clause 3).
❓ 자주 묻는 질문
How long are microfinance organizations exempt from tax?
Microfinance organizations are exempt from corporate income tax for the first two years.
What is the tax rate applied to microfinance organizations?
From January 1, 2016, the corporate income tax rate on income from microfinance activities is 17%.
How is the tax exemption and reduction period calculated?
The tax exemption and reduction period is calculated continuously from the first year of generating taxable income from microfinance activities.
전문
CIRCULAR
Guidelines for the trial application of corporate income tax policy for Microfinance Organizations
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Pursuant to the Law on Tax Administration No. 78/2006/QH11 dated November 29, 2006 and the Law Amending and Supplementing Certain Provisions of the Law on Tax Administration No. 21/2012/QH13 dated November 20, 2012;
Pursuant to the Enterprise Income Tax Law No. 14/2008/QH12 dated June 3, 2008 and the Law Amending and Supplementing Certain Provisions of the Enterprise Income Tax Law No. 32/2013/QH13 dated June 19, 2013;
Pursuant to Decree No. 118/2008/NĐ-CP dated November 27, 2008, of the Government stipulating the functions, tasks, powers, and organizational structure of the Ministry of Finance;
Pursuant to the opinion of the Prime Minister at Official Letter No. 5778/VPCP-KTTH dated July 16, 2013 of the Government Office regarding the preferential corporate income tax policy for Microfinance Organizations;
Pursuant to the opinions of the Governor of the State Bank of Vietnam at Official Letters No. 3635/NHNN-TTGSNH dated June 15, 2012 and No. 258/NHNN-TTGSNH dated January 16, 2012;
Considering the proposal of the Director of the Department of Tax Policy;
The Minister of Finance issues this Circular guiding the trial application of the corporate income tax policy for Microfinance Organizations.
Article 1. Scope and Applicability
This Circular guides the trial application of the corporate income tax policy for Microfinance Organizations that have been permitted to establish before January 1, 2014, according to the provisions of the Law on Credit Institutions No. 47/2010/QH12 but do not meet the conditions to apply preferential corporate income tax policies under the category of newly established enterprises from investment projects in areas with particularly difficult economic and social conditions as stipulated in Decree No. 124/2008/NĐ-CP dated December 11, 2008 detailing and guiding the implementation of certain provisions of the Law on Corporate Income Tax.
Article 2. Trial preferential tax policy applicable to Microfinance Organizations as prescribed in Article 1 of this Circular
1. Apply a corporate income tax rate of 20% throughout the period of operation for income derived from microfinance activities. From January 1, 2016, the corporate income tax rate specified in this clause shall be reduced to 17%.
2. Exempt corporate income tax for two years and reduce by 50% the amount of tax payable for the next four years for income derived from microfinance activities.
The tax exemption and reduction period prescribed in Clause 2 of this Article shall be calculated continuously from the first year when the Microfinance Organization has taxable income from microfinance activities. In cases where the Microfinance Organization does not have taxable income in the first three years, starting from the first year it generates revenue from microfinance activities, the tax exemption and reduction period shall be calculated from the fourth year.
Microfinance activities as defined in this Article are those activities that Microfinance Organizations are permitted to carry out in accordance with Articles 119, 120, 121, and 122 of the Law on Credit Institutions No. 47/2010/QH12 and related guiding documents.
3. The principles, conditions, and procedures for applying the preferential tax exemption and reduction policy shall be implemented in accordance with the provisions of laws on corporate income tax and laws on tax administration.
Article 3. Implementation Organization
1. This Circular takes effect from November 11, 2013.
2. The limited liability microfinance organization named "Tình Thương" continues to implement the preferential corporate income tax policy as guided by the Ministry of Finance in Circular No. 116/2012/TT-BTC dated July 18, 2012. From January 1, 2016, it shall follow Article 2 of this Circular regarding the corporate income tax rate.
3. Annually, Microfinance Organizations subject to the trial preferential corporate income tax policy as prescribed in this Circular and Circular No. 116/2012/TT-BTC shall be responsible for reporting the results of tax exemptions and reductions to the Ministry of Finance (General Department of Taxation, Department of Tax Policy) and the State Bank of Vietnam no later than ninety days from the end of the calendar year or fiscal year for consolidation and reporting to the Government.
4. Matters not covered by this Circular and matters not contrary to the guidance provided in this Circular shall be implemented in accordance with current regulations.
During the implementation process, if there are any difficulties, organizations and individuals are requested to promptly report to the Ministry of Finance for timely research and supplementary guidance./.
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