Circular No. 7333/TC/TCT stipulates the exemption of corporate income tax (CIT) and personal income tax (PIT) for foreign contractors and individuals participating in non-repayable ODA projects in Vietnam. This document guides the tax exemption based on specific conditions set forth in the Aid Agreement.
적용 범위
Foreign contractors and foreign individuals participating in implementing non-repayable ODA projects
핵심 사항
- Foreign contractors are exempt from corporate income tax (CIT) on income derived from providing goods and services for aid projects (Point 1)
- Foreign individuals are exempt from personal income tax (PIT) on income earned working for foreign contractors in non-repayable ODA projects (Point 2)
- The exemption of taxes must be specifically stipulated in the Aid Agreement, and requires the opinion of the Ministry of Finance before signing (Point 3)
- Foreign contractors and individuals are subject to tax obligations under current laws if the Aid Agreement does not provide for tax exemptions (Point 4)
- Tax exemptions must be agreed upon specifically in commitments with each sponsor
🌐 이 문서의 사회적 영향
- To attract foreign investment into non-repayable ODA projects
- To facilitate the implementation of aid projects and reduce the tax burden on contractors and individuals from abroad
- Require agencies signing agreements to obtain the opinion of the Ministry of Finance before granting tax exemptions
❓ 자주 묻는 질문
What income is exempted for foreign contractors?
Income derived from providing goods and services for non-repayable aid projects.
In what circumstances are foreign individuals exempt from personal income tax (PIT)?
When working for foreign contractors participating in the implementation of non-repayable ODA aid projects.
How must tax exemptions be agreed upon?
Must be specifically stipulated in the Aid Agreement and requires the opinion of the Ministry of Finance before signing.
전문
LETTER
OF THE MINISTRY OF FINANCE NUMBER 7333/TC/TCT DATED JULY 2, 2004
REGARDING ENTERPRISE INCOME TAX AND PERSONAL INCOME TAX
FOR NON-REPAYABLE ODA PROJECTS
Respected: - Ministries, ministerial-level agencies, and central government agencies
- People's Committees of provinces and centrally-administered cities
- Tax Departments of provinces and centrally-administered cities
Pursuant to the directive of the Prime Minister in the Government Office's letter No. 1048/VPCP-KTTH dated March 5, 2004 regarding the exemption from enterprise income tax (EIT) and personal income tax (PIT) for foreign contractors and individuals participating in non-repayable ODA projects in Vietnam, the specific terms of which will be agreed upon in each agreement with sponsors, the Ministry of Finance provides guidance as follows:
1. Foreign contractors participating in non-repayable aid project implementation are exempt from EIT on income derived from providing goods and services to such non-repayable aid projects based on contracts signed with the project owner.
2. Individuals from foreign countries are exempt from PIT on income earned by working for foreign contractors involved in implementing non-repayable ODA projects.
3. The exemptions of EIT and PIT as mentioned in points 1 and 2 above must be stipulated in the Agreement on Non-Repayable Aid. Based on the conditions, nature, and characteristics of each non-repayable ODA project and the requirements of sponsors, the agency signing the agreement shall seek the opinion of the Ministry of Finance and report to the Prime Minister regarding the exemption of EIT and PIT for foreign contractors and individuals before signing the Agreement.
4. Foreign contractors and individuals participating in non-repayable aid projects shall fulfill their tax obligations according to current laws on taxation and Double Taxation Avoidance Agreements signed with other countries if such agreements do not provide for exemptions from taxes.
The Ministry of Finance provides this guidance for the knowledge and implementation by relevant agencies./.
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