Circular No. 3962-TC/TCT dated 1996 by the Ministry of Finance stipulates on the accounting and payment of state capital utilization revenue for income tax reductions or exemptions granted to enterprises according to legal provisions.
적용 범위
Enterprises; Provincial Tax Departments under central cities
핵심 사항
- Enterprise → must account for an increase in national budget funds corresponding to the amount of income tax reduction or exemption as decided by authorized agencies (Article 1)
- Provincial Tax Departments under central cities → guide units to implement accounting and payment of state capital utilization revenue according to legal provisions (Article 2)
- Enterprises are exempt from income tax in certain cases such as relocating from lowland areas to mountainous regions, testing new products, conducting scientific research or reducing income tax when expanding production and business operations (Article 1)
- Enterprises must submit state capital utilization revenue according to prescribed regulations for the amount of income tax reduction or exemption (Article 1)
- Relevant Ministries and sectors → guide units under their authority to implement accounting and payment of state capital utilization revenue in accordance with the spirit of this circular (Article 2)
🌐 이 문서의 사회적 영향
- Enterprises benefit from income tax reductions or exemptions, promoting investment and development of production and business operations
- Provincial Tax Departments under central cities have additional responsibilities to guide implementation of accounting and payment of state capital utilization revenue according to legal provisions
❓ 자주 묻는 질문
In what cases are enterprises exempted from income tax?
Enterprises are exempt from income tax when relocating from lowland areas to mountainous regions, testing new products, conducting scientific research or reducing income tax when expanding production and business operations.
What responsibilities do Tax Departments have in implementing this circular?
Provincial Tax Departments under central cities must guide units to implement accounting and payment of state capital utilization revenue according to legal provisions.
What are the responsibilities of enterprises when they receive income tax reductions or exemptions?
Enterprises must account for an increase in national budget funds corresponding to the amount of income tax reduction or exemption and submit state capital utilization revenue according to prescribed regulations.
What are the responsibilities of relevant Ministries and sectors?
Relevant Ministries and sectors must guide units under their authority to implement accounting and payment of state capital utilization revenue in accordance with the spirit of this circular.
전문
LETTER
OF THE MINISTRY OF FINANCE NUMBER 3962 TC/TCT DATED NOVEMBER 4, 1996 ON ACCOUNTING FOR REDUCED INCOME TAX PAYMENTS
Respected: - Ministries, ministerial-level agencies, and central government agencies
- Provincial Tax Departments
Pursuant to the Income Tax Law and the Law Amending and Supplementing Certain Provisions of the Income Tax Law and related implementing regulations;
Pursuant to the Law on Domestic Investment Promotion;
To create favorable conditions for promoting business development and encouraging investment, the State has provided benefits such as tax exemptions or reductions in income tax for enterprises through various forms including:
- Exemption of income tax for businesses relocating from lowland areas to mountainous regions.
- Exemption of six months' income tax from the date of trial production commencement for products produced under the provisions set forth in Circular No. 55/TT-LB dated October 12, 1992 issued by the Ministry of Finance and the State Scientific Council (now the Ministry of Science and Technology and Environment).
- Exemption of income tax on scientific research activities and science service contracts under the aforementioned Circular No. 55/TT-LB.
- Reduction in income tax for newly established enterprises.
- Reduction in income tax for business operations in difficult regions.
- Reduction in income tax for production facilities and certain industries that need investment encouragement if they expand their production or deepen their investments to achieve higher efficiency than before.
- Reduction in income tax as stipulated by Decree No. 29/CP dated May 12, 1995 of the Government detailing implementation of the Law on Domestic Investment Promotion.
To ensure uniform application of accounting for reduced income tax payments under the above cases, decisions to exempt or reduce income tax must be made by authorized agencies, and all amounts of income tax that are exempted or reduced must be accounted as increased state budget revenue and collected according to prescribed regulations (applicable to state-owned enterprises).
We request ministries, sectors, and provincial Tax Departments to guide units to implement in accordance with the spirit outlined above.
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