Circular No. 24/2000/TT-BTC guides the exemption and reduction of corporate income tax for commercial and service households affected by natural disasters, fires, and unexpected accidents. This Circular applies to households whose operations are affected by such incidents and specifies the level of tax exemption or reduction based on the extent of damage.
Đối tượng áp dụng
Commercial and service households during business activities encounter natural disasters, fires, and unexpected accidents causing damage to assets and goods produced and traded, affecting business results and family livelihoods.
Các điểm cốt lõi
- Commercial households suffering over 80% loss in asset and goods value are exempted from corporate income tax for one year.
- Households suffering losses between 60% and 80% of asset and goods value are exempted from corporate income tax payable for six months.
- Households suffering losses between 30% and 60% of asset and goods value have their corporate income tax payable reduced by 50% for six months.
- If the damage is less than 30%, households have their corporate income tax payable reduced by 50% for three months.
- Tax exemption and reduction applications include a request letter and a confirmation report on the extent of damage, which must be confirmed by local management authorities.
🌐 Tác động xã hội từ văn bản này
- Positive impact: Helps commercial households quickly resume operations after encountering natural disasters, fires, and unexpected accidents.
- Negative impact: May impose administrative burden on tax authorities and commercial households.
❓ Câu hỏi thường gặp
What percentage of asset and goods value loss will result in corporate income tax exemption for commercial households?
If a household suffers over 80% loss in asset and goods value, it will be exempted from corporate income tax for one year.
What percentage of asset and goods value loss will result in a 50% reduction of corporate income tax payable for commercial households?
If a household suffers between 30% and 60% loss in asset and goods value, it will have its corporate income tax payable reduced by 50% for six months.
What does a tax exemption and reduction application include?
A tax exemption and reduction application includes a request letter and a confirmation report on the extent of damage to assets and goods produced and traded.
How long does it take to process a tax exemption and reduction application?
The processing time for a tax exemption and reduction application shall not exceed thirty days from the date of receipt of the tax exemption and reduction request.
How will commercial households currently benefiting from tax exemptions and reductions under previous regulations continue to implement the remaining period?
Commercial households currently benefiting from tax exemptions and reductions due to natural disasters and fires under previous regulations of the Ministry of Finance will continue to implement the remaining period without adjustment according to this Circular.
Toàn văn
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MINISTRY OF FINANCE |
SOCIALIST REPUBLIC OF VIETNAM |
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Number: 24/2000/TT-BTC |
Hanoi, March 30, 2000 |
CIRCULAR
The Ministry of Finance issued Circular No. 24/2000/TT-BTC dated March 30, 2000 guiding the implementation of Decision No. 08/2000/QD-TTg dated January 17, 2000 of the Prime Minister on exemption and reduction of corporate income tax for households engaged in commerce, industry, and services affected by natural disasters, fires, and unexpected accidents.
Pursuant to Decree No. 30/1998/NĐ-CP dated May 13, 1998 of the Government detailing the implementation of the Law on Corporate Income Tax.
Pursuant to Decision No. 08/2000/QD-TTg dated January 17, 2000 of the Prime Minister on exemption and reduction of corporate income tax for households engaged in commerce, industry, and services affected by natural disasters, fires, and unexpected accidents.
The Ministry of Finance guides the implementation as follows:
1. Objects: Households engaged in commerce, industry, and services that suffer losses to assets and goods due to natural disasters, fires, and unexpected accidents during their business operations, affecting their business results and family livelihoods, shall be entitled to exemption and reduction of taxes according to the provisions of this Circular.
2. Provisions on exemption and reduction of taxes:Exemption and reduction of corporate income tax for households engaged in commerce, industry, and services affected by natural disasters, fires, and unexpected accidents causing damage to assets and goods. The amount of tax exemption and reduction is calculated based on the ratio of loss but shall not exceed the value of damaged assets and goods. The period of exemption and reduction starts from the month they resume business operations, specifically as follows:
a. For households engaged in commerce and industry paying corporate income tax based on fixed revenue, the tax exemption and reduction shall be as follows:
- Households suffering losses exceeding 80% of the value of assets and goods during business operations shall be exempted from corporate income tax for one year.
- Households suffering losses ranging from over 60% to 80% of the value of assets and goods during business operations shall be exempted from corporate income tax for six months.
- Households suffering losses ranging from 30% to 60% of the value of assets and goods during business operations shall have their corporate income tax reduced by 50% for six months.
- If the level of damage is less than 30% of the value of assets and goods during business operations, the corporate income tax shall be reduced by 50% for three months.
In cases where individual households engaged in business purchase insurance for assets and goods, if compensation is received from the insurance agency, the compensation amount shall be deducted from the value of damaged assets and goods when determining the ratio of loss.
b. For households engaged in commerce and industry implementing full accounting systems, invoice and voucher regulations, and tax declarations, if the specific value of damaged assets and goods due to natural disasters, fires, and unexpected accidents can be determined and it leads to business losses, such losses may be carried forward according to Article 37 of Decree No. 30/1998/NĐ-CP dated May 13, 1998 of the Government detailing the implementation of the Law on Corporate Income Tax.
In cases where households engaged in business purchase insurance for assets and goods, the compensation amount from the insurance agency shall be deducted from the value of damaged assets and goods; if there is still a loss after deduction, it may be carried forward to the next year.
3. Documents and authority for exemption and reduction of taxes:
a. Documents for exemption and reduction of taxes:
- The household head must submit a request for tax exemption and reduction to the direct tax management agency along with a confirmation report on the extent of damage to assets and goods.
- The confirmation report on the extent of damage to assets and goods of households engaged in commerce and industry at markets must be confirmed by the Market Management Board; at communes and wards, it must be confirmed by the commune or ward authorities or the Tax Advisory Council at the commune or ward level. In cases where households engaged in commerce and industry suffer damage to goods while transporting them, the confirmation must be provided by the Traffic Police or the local police station where the accident occurred.
b. Authority for exemption and reduction of taxes:
The Director of the Tax Revenue Office shall base on the application for tax exemption and reduction of households affected by natural disasters, fires, and unexpected accidents, consult with the Tax Advisory Council at the commune or ward level or the Market Management Board regarding the duration and amount of exemption and reduction, then publicly announce the list of households eligible for tax exemption and reduction and the duration of such exemptions and reductions, issue decisions on tax exemption and reduction for each household according to the specified time and amount.
The processing time shall not exceed thirty days from the date of receipt of the application for tax exemption and reduction. In cases where the procedures are incomplete or the households do not qualify for tax exemption and reduction, the tax agency must provide a written response so that the households are informed.
This Circular takes effect from January 17, 2000. Households currently benefiting from tax exemption and reduction due to natural disasters and fires under previous regulations of the Ministry of Finance shall continue to benefit for the remaining period without adjustment according to this Circular.
During the implementation of this Circular, if there are any difficulties, please promptly report to the Ministry of Finance through the Tax Departments and organizations for appropriate review and supplementation./.
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Pham Van Trong (Signed) |
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