Which Fishery Activities Are Exempt from Tax?

20:19, 10/07/2024

This is a notable content stipulated by the Minister of Finance in Circular 117/2014/TT-BTC guiding the implementation of certain policies of Decree 67/2014/ND-CP on certain policies for fisheries development.

Circular 117/2014/TT-BTC stipulates several tax exemption policies for organizations and individuals related to fisheries activities, specifically as follows:

tax exemption, fisheries activities, fisheries

- Exemption from resource tax for organizations and individuals engaging in natural marine product exploitation. Organizations and individuals involved in natural marine product exploitation eligible for tax exemption are not required to submit monthly resource tax declarations and annual resource tax finalization.- Exemption from registration fees for vessels and boats used for fishing and marine product exploitation. In these cases, the owner must present the registration certificate for technical safety inspection issued by the competent authority in charge of managing fishing and marine exploitation vessels when declaring registration fees.- Exemption from business license tax for organizations, households, and individuals involved in aquaculture, fishing, and fisheries support services.- Exemption from land rent and water surface rent for aquaculture activities conducted by organizations, households, and individuals. The exemption from land rent and water surface rent is carried out according to the provisions of land law and other relevant legal documents.- ...

For further details on the tax incentive policies, see Circular 117/2014/TT-BTC which took effect on August 21, 2014.

Thu Ba

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