Circular No. 3545/TC/CST provides guidance on exempting corporate income tax (CIT) for trial products, including automobiles and automobile spare parts, within one year from the date of their market introduction. This document applies to domestic enterprises producing and assembling automobiles and spare parts in Vietnam.
적용 범위
Domestic enterprises and foreign-invested enterprises engaged in production and assembly of automobiles and automobile spare parts
핵심 사항
- Enterprises conducting trial products such as automobiles, automobile engines, gearboxes, and drive units are exempt from corporate income tax (CIT) on the income derived from these trial products for one year (Article 1).
- Trial products must be appraised and approved by the Ministry of Industry regarding production technology, quantity, and quality (Article 1).
- Enterprises must meet the standards set forth by the Ministry of Industry according to Vietnam's Automotive Industry Development Strategy (Article 2).
- Enterprises must fully comply with accounting records, invoices, documents, and have registered for corporate income tax declaration (Article 2).
- Enterprises shall self-determine the amount of CIT exempted for trial products and settle taxes in accordance with the guidance provided in Section IV, Part D of Circular No. 128/2003/TT-BTC (Article 3)
🌐 이 문서의 사회적 영향
- To help enterprises save tax costs during the product testing phase.
- Encourage investment in the automotive industry, promote technological development, and enhance the competitiveness of Vietnamese enterprises.
- Short-term financial burden on the state budget may be reduced but will strengthen long-term competitive capacity.
❓ 자주 묻는 질문
Which enterprises are exempt from corporate income tax?
Domestic enterprises and foreign-invested enterprises producing and assembling automobiles and automobile spare parts with trial products.
What is the duration of the exemption period?
One year from the date when the product is introduced to the market.
What are the conditions for tax exemption?
Enterprises must meet the standards set forth by the Ministry of Industry and fully comply with accounting records, invoices, and documents.
Who appraises trial products?
The Ministry of Industry.
How is the amount of exempted tax determined?
Enterprises shall self-determine and settle taxes in accordance with the guidance provided in Section IV, Part D of Circular No. 128/2003/TT-BTC.
전문
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MINISTRY OF FINANCE |
SOCIALIST REPUBLIC OF VIET NAM |
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No.: 3545/TC/CST |
Hanoi, March 28, 2005 |
NOTIFICATION
OF THE MINISTRY OF FINANCE NO. 3545 TC/CST DATED MARCH 28, 2005 ON EXEMPTION OF CORPORATE INCOME TAX FOR TRIAL-PRODUCED VEHICLES AND VEHICLE PARTS
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To: |
- Ministries, ministerial-level agencies, and government-affiliated agencies; |
Pursuant to Decision No. 177/2004/QĐ-TTg dated October 5, 2004 of the Prime Minister approving the Master Plan for the Development of Vietnam’s Automotive Industry until 2010 with a vision towards 2020; the Ministry of Finance hereby guides the implementation of corporate income tax exemption for enterprises producing trial-produced vehicles and vehicle parts as follows:
Enterprises engaged in manufacturing, assembling automobiles, producing automotive components and spare parts (including both domestic enterprises and foreign-invested enterprises operating under the Law on Investment) that conduct trials with products such as automobiles, automobile engines, gearboxes, drive units shall be exempt from corporate income tax for one year starting from when trial-produced products are marketed. The exemption applies to trial-produced products which have been appraised and approved by the Ministry of Industry regarding production technology, quantity, and quality.
Enterprises eligible for tax exemption under this Notification must meet all criteria set forth in the Strategic Plan and Master Plan for the Development of Vietnam’s Automotive Industry until 2010 with a vision towards 2020 issued by the Ministry of Industry; comply fully with accounting records, invoices, and documents; have registered and paid corporate income tax as declared; and separately account for revenue from trial-produced products.
Enterprises shall self-determine the amount of corporate income tax exempted for trial-produced products and settle taxes in accordance with Section IV, Part D of Circular No. 128/2003/TT-BTC dated December 22, 2003 issued by the Ministry of Finance to guide the implementation of Decree No. 164/2003/NĐ-CP dated December 22, 2003.
This guidance shall be implemented from the fiscal year 2005. The Ministry of Finance hereby informs relevant ministries; People's Committees of provinces and centrally-run cities to take note and instruct units to implement accordingly.
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Truong Chi Trung (Signature) |
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