Circular No. 3571/TC/TCT of 2005 by the Ministry of Finance guiding tax exemption and reduction for corporate income tax (CIT) for businesses investing in infrastructure and housing development. This document specifies the beneficiaries, application period, and conditions for CIT exemption and reduction.
适用范围
Businesses investing in infrastructure and housing development; State-owned enterprises converted to joint-stock companies
要点
- Businesses that have been granted an Investment License or Investment Incentive Certificate continue to enjoy tax exemption and reduction on corporate income tax (CIT) for the year 2004 and subsequent years (Article 1).
- State-owned enterprises converted to joint-stock companies are entitled to CIT incentives under the Law on Encouragement of Domestic Investment without needing an investment incentive certificate (Article 2).
- Businesses that have the right to use land from January 1, 2004 for infrastructure and housing development do not enjoy tax exemption and reduction on income from transferring or leasing land rights (Article 3).
- This document applies to businesses investing in infrastructure and housing development.
- Businesses with investment incentive licenses continue to enjoy tax exemption and reduction during the validity period of their license.
🌐 本文件的社会影响
- Tax exemption and reduction for corporate income tax helps businesses investing in infrastructure and housing development secure additional capital to implement projects.
- The inability to enjoy tax exemption and reduction on income from transferring or leasing land rights starting January 1, 2004 will increase costs for newly established businesses in this field.
❓ 常见问题
Are businesses investing in infrastructure and housing development eligible for corporate income tax (CIT) exemption and reduction?
Yes, if they have been granted an Investment License or Investment Incentive Certificate.
Do state-owned enterprises converted to joint-stock companies need to go through the process of obtaining an investment incentive certificate to enjoy CIT exemption and reduction?
No, businesses only need to comply with the Law on Encouragement of Domestic Investment.
Are businesses that have land use rights from January 1, 2004 eligible for corporate income tax (CIT) exemption and reduction on income from transferring or leasing land rights?
No.
全文
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MINISTRY OF FINANCE |
SOCIALIST REPUBLIC OF VIETNAM |
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No.: 3571/TC/TCT |
Hanoi, March 29, 2005 |
NOTIFICATION
OF THE MINISTRY OF FINANCE NO. 3571 TC/TCT DATED MARCH 29, 2005 ON TAX INCENTIVES FOR INCOME TAX REDUCTION FOR BUSINESSES INVESTING IN INFRASTRUCTURE DEVELOPMENT AND HOUSING DEVELOPMENT
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To: |
- Ministries, ministerial-level agencies, and government-affiliated agencies. |
The Ministry of Finance has provided guidance on implementing Clause 2 and Clause 3 of Article 50 of Decree No. 164/2003/NĐ-CP dated December 22, 2003 in Section I Part H Circular No. 128/2003/TT-BTC dated December 22, 2003 regarding corporate income tax. Based on the directive of the Prime Minister as stated in Government Office Document No. 675/VPCP dated February 7, 2005 concerning continued tax incentives for corporate income tax reduction (including corporate income tax from land use rights transfer and land lease rights transfer) for businesses specializing in infrastructure investment development and housing development according to previous legal documents on taxation; the Ministry of Finance provides additional guidance as follows:
1. Businesses investing in infrastructure development or developing houses that have been granted an Investment License or an Investment Incentive Certificate, if they still have time remaining for tax incentives under the provisions of their Investment License or Investment Incentive Certificate for the year 2004 and subsequent years, shall continue to enjoy tax incentives including corporate income tax from land use rights transfer and land lease rights transfer on land transferred by the State or with land use rights before January 1, 2004 for infrastructure investment and housing development until the end of the incentive period specified in their Investment Incentive License or Certificate.
2. State-owned enterprises converted into joint-stock companies shall enjoy tax incentives under the Law on Domestic Investment Promotion without needing to go through procedures for obtaining an Investment Incentive Certificate as stipulated in Clause 1, Article 26 of Government Decree No. 64/2002/NĐ-CP dated June 19, 2002 regarding conversion of state-owned enterprises into joint-stock companies and shall also enjoy tax incentives including corporate income tax from land use rights transfer and land lease rights transfer on land transferred by the State or with land use rights before January 1, 2004 for infrastructure investment and housing development.
3. Businesses that have been granted land by the State or have land use rights since January 1, 2004 to invest in infrastructure development and housing development shall not be eligible for tax reduction on income from land use rights transfer and land lease rights transfer as stipulated in Article 15 of Government Decree No. 164/2003/NĐ-CP dated December 22, 2003 if they are entitled to tax incentives.
The Ministry of Finance hereby informs relevant ministries, provincial and centrally-run city People's Committees for their knowledge and direction to implement accordingly.
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Truong Chi Trung (Signature) |
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