Circular No. 138/2012/TT-BTC guides the allocation of business advantage value for joint-stock companies converted from state-owned enterprises, applicable to companies that have implemented shareholding according to regulations and have not completed the allocation. The allocation period shall not exceed 10 years from the date of operation.
适用范围
Joint-stock companies converted from state-owned enterprises, with business advantage value already included in the valuation of the shareholding enterprise and have not completed the allocation.
要点
- Joint-stock companies converted from state-owned enterprises allocate business advantage value into reasonable expenses when determining corporate income tax revenue, within a period not exceeding 10 years.
- The allocation implementation period starts from the date the joint-stock company officially commences operations or from the date it becomes a joint-stock company if allocation has not been carried out previously.
- If allocation was carried out according to Circular No. 203/2009/TT-BTC after becoming a joint-stock company, the company continues to carry out allocation but the total period shall not exceed 10 years.
- Joint-stock companies generating losses during the allocation of business advantage value can offset these losses against taxable income in subsequent years as prescribed by law.
- This Circular takes effect from October 5, 2012.
🌐 本文件的社会影响
- Positive impact: Helps joint-stock companies converted from state-owned enterprises reduce financial burdens during the allocation of business advantage value.
- Negative impact: May cause difficulties for companies that have not yet implemented or completed the allocation, requiring time and resources to comply with the regulations.
❓ 常见问题
When can joint-stock companies converted from state-owned enterprises apply this Circular?
Joint-stock companies converted from state-owned enterprises that have implemented shareholding according to regulations but have not completed the allocation of business advantage value.
What is the allocation period for business advantage value?
The allocation period shall not exceed 10 years, starting from the date the joint-stock company officially commences operations or from the date it becomes a joint-stock company if allocation has not been carried out previously.
If allocation was carried out according to Circular No. 203/2009/TT-BTC after becoming a joint-stock company, is it necessary to apply this Circular?
The company continues to carry out allocation but the total period shall not exceed 10 years as stipulated in this Circular.
If a joint-stock company generates losses during the allocation process, can these losses be offset against taxable income in subsequent years?
Yes, joint-stock companies generating losses during the allocation of business advantage value can offset these losses against taxable income in subsequent years as prescribed by law.
When does this Circular take effect?
This Circular takes effect from October 5, 2012.
全文
CIRCULAR
Guidelines for allocating the value of business advantages for joint-stock companies converted from state-owned enterprises
converted from state-owned enterprise
____________________
Pursuant to the Enterprise Law No. 60/2005/QH11 dated November 29, 2005;
Pursuant to the 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;
To ensure consistent accounting of expenses in compliance with management requirements;
3. Domestic and foreign organizations and individuals meeting the conditions to provide dredging and maintenance services for maritime channels according to the law.
The Minister of Finance issues this Circular to guide the allocation of the value of business advantages for joint-stock companies converted from state-owned enterprises.
Article 1. Scope of application
1. This Circular applies to joint-stock companies converted from state-owned enterprises pursuant to Decree No. 64/2002/NĐ-CP dated June 19, 2002 of the Government on converting state-owned enterprises into joint-stock companies; Decree No. 187/2004/NĐ-CP dated November 16, 2004 of the Government on converting state-owned companies into joint-stock companies; and Decree No. 109/2007/NĐ-CP dated June 26, 2007 of the Government on converting wholly state-owned enterprises into joint-stock companies, where the value of business advantages is included in the enterprise's value when determining the value of the joint-stock company through the asset method and has been approved by the competent authority according to regulations.
2. Joint-stock companies specified in Clause 1 of this Article have not yet allocated or have not fully allocated the value of business advantages included in the enterprise's value when implementing the joint-stock conversion according to current regulations.
Article 2. Allocation of the Value of Business Advantages
1. Joint-stock companies specified in Article 1 of this Circular shall allocate the value of business advantages already included in the value of the joint-stock company upon approval by the competent authority as reasonable costs when determining corporate income tax revenue.
2. The period for allocation shall not exceed ten years from the date the joint-stock company officially commences operations (receiving the first registration certificate for a joint-stock company). In cases where the enterprise has not allocated the value of business advantages into its costs since officially becoming a joint-stock company, the period for allocation shall not exceed ten years from the date the joint-stock company begins the allocation.
3. If, after becoming a joint-stock company, the enterprise has allocated the value of business advantages into its costs according to Circular No. 203/2009/TT-BTC dated October 20, 2009 of the Ministry of Finance and other guiding documents of the Ministry of Finance over a three-year period, and if the value of business advantages has not been fully allocated, the joint-stock company shall continue to allocate it into its costs but must ensure that the total period for allocating the value of business advantages does not exceed ten years as stipulated in this Circular.
When joint-stock companies allocate the value of business advantages according to this Circular and incur losses, the joint-stock company shall offset these losses against taxable income in subsequent years in accordance with corporate income tax laws.
Article 3. Implementation Organization
1. This Circular takes effect from October 5, 2012.
2. Joint-stock companies with the value of business advantages determined by the enterprise itself or incurred costs to obtain business advantages but not included in the enterprise's value when undergoing joint-stock conversion and approved by the competent authority (including joint-stock companies converted from state-owned enterprises) shall implement allocations according to current regulations and not apply this Circular.
3. During implementation, if there are any difficulties, agencies and units are requested to promptly report them to the Ministry of Finance for research and resolution./.
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