What is the Schedule of power outage for Binh Duong province on February 11 and 12? Do corporate income tax incentives apply to revenue from electricity production and sale in Vietnam?

What is the Schedule of power outage for Binh Duong province on February 11 and 12?

The projected Schedule of power outage for districts and cities in Binh Duong Province on February 11 and 12 is as follows:

Thu Dau Mot City

Additionally, on February 11, 2025, certain districts and cities in Binh Duong Province have the following projected Schedule of power outage:

Di An City

- Nguyen Van Sieu Road, Di An Ward: from 8:00 to 16:30.- Hoang Cam Road, Binh An Ward: from 8:00 to 16:30.- ĐT 743C Road, Binh An Ward: from 8:00 to 16:30.

Ben Cat City

- Station at Hamlet 3, Tan Dinh Ward: from 7:30 to 16:30.

- Tan Uyen City

- Ms. Thao's Boarding House, Khanh Binh Ward: from 9:00 to 13:30.- Lam Thanh Nhung Co., Ltd, Khanh Binh Ward: from 9:00 to 13:30.- Nguyen Hoang Anh's Boarding House, Uyen Hung Ward: from 9:00 to 13:30.- Phuong Thanh Cong Investment - Trading Service Co., Ltd, Khanh Binh Ward: from 9:00 to 13:30.- Quoc Viet Plastics Manufacturing Trading Co., Ltd Branch, Khanh Binh Ward: from 9:00 to 13:30.- Tam Binh Phat Co., Ltd, Loi Phat Thinh Co., Ltd, Khanh Binh Ward: from 9:00 to 13:30.

Phu Giao District

- Ben San Road, Quarter 3, Phuoc Vinh Commune-level Town: from 8:00 to 11:30.- Can Lo Road, Quarter 6, Phuoc Vinh Commune-level Town: from 13:00 to 17:00.- Tan Thinh Hamlet, An Binh Commune: from 13:00 to 17:00.

Bau Bang District

- Along Thieu Nien 3 Road, Afternoon Market area, Binh Phuoc College, Hamlet 4, Tru Van Tho Commune: from 6:00 to 12:00.

Additionally, on February 12, 2025, certain districts and cities in Binh Duong Province have the following projected Schedule of power outage:

Di An City

- Mach Thi Lieu Road, Nguyen Thi Khap Road, DT 743 B Road, Tan Dong Hiep Ward: from 8:00 to 16:30.

Tan Uyen City

- A part of Tan Hiep Ward, Khanh Binh Ward: from 9:00 to 13:30.

The information is for reference only!

What is the Schedule of power outage for Binh Duong province on February 11 and 12? Do corporate income tax incentives apply to revenue from electricity production and sale in Vietnam? (Image from Internet)

Do corporate income tax incentives apply to revenue from electricity production and sale in Vietnam?

Based on Official Dispatch 1884/TCT-CS 2024 from the General Department of Taxation guiding the determination of income entitled to Corporate Income Tax incentives for revenue from electricity production and sale activities, the contents are as follows:

Firstly, pursuant to points (b) and (c), Clause 1, Article 15 of Decree 218/2013/ND-CP regarding preferential tax rates as follows:

Preferential Tax Rates

1. A 10% preferential tax rate for 15 years applies to:

…

(b) Income of enterprises from the implementation of new investment projects in fields:... renewable energy production, clean energy, energy from waste destruction;...

(c) Income of enterprises from the implementation of new investment projects in the field of environmental protection, including: Production of environmental pollution treatment equipment, environmental monitoring and analysis equipment; pollution treatment and environmental protection; collection and treatment of wastewater, exhaust gas, solid waste; recycling, and reuse of waste;

…

And, based on point (a), Clause 1, Article 16 of Decree 218/2013/ND-CP on tax exemption and reduction as follows:

Tax Exemption, Reduction

1. Tax exemption for 4 years, a 50% reduction of the payable tax for the subsequent 9 years for:

(a) Income of enterprises from the implementation of new investment projects specified in Clause 1, Article 15 of this Decree;

…

Secondly, based on Clause 2, Article 10 of Circular 96/2015/TT-BTC stipulated:

Amend and supplement some contents at Article 18 of Circular 78/2014/TT-BTC (as amended and supplemented at Article 5 of Circular 151/2014/TT-BTC) as follows:

…

2. Amend and supplement Clause 4, Article 18 of Circular 78/2014/TT-BTC as follows:

4. Enterprises with investment projects entitled to Corporate Income Tax incentives by meeting investment incentive or preferential geographical conditions determine the incentives as follows:

(a) Enterprises with investment projects entitled to Corporate Income Tax incentives by meeting investment field incentives or locations, all income from investment incentive fields and income from disposing waste materials of incentive products, foreign currency differentials directly related to revenue and costs of the incentive field, non-term bank interest, and other directly related income are also eligible for Corporate Income Tax incentives.

...

Thirdly, based on Article 18 of Circular 78/2014/TT-BTC as supplemented by Clause 5, Article 10 of Circular 96/2015/TT-BTC that stipulates conditions for Corporate Income Tax incentives.

Lastly, based on Clause 3, Article 12 of Decision 31/2014/QD-TTg governing project investment capital and tax incentives:

Investment Capital and Tax Incentives

…

3. Corporate Income Tax: The income tax exemption and reduction for power generation projects utilizing solid waste conform to the projects in investment incentive fields as per current tax laws.

In Official Dispatch 1884/TCT-CS 2024, the conclusion is stated as follows:

...

Based on the above-mentioned regulations, in the case of a company implementing a new investment project and being licensed for activities in the power sector, earning revenue from electricity production and sale (utilizing heat from incinerating solid waste for power generation), the revenue from the company's electricity production and sale activity is entitled to Corporate Income Tax incentives as per the regulations.

Thus, revenue from electricity production and sale activities will receive Corporate Income Tax incentives as stipulated for projects within the investment incentive field.

What are the conditions for applying corporate income tax incentives in Vietnam?

According to Clause 1, Article 18 of Circular 78/2014/TT-BTC regarding the conditions for applying Corporate Income Tax incentives:

Conditions for Applying Corporate Income Tax Incentives

1. Corporate Income Tax incentives only apply to enterprises that implement accounting policies, invoices, documentation, and pay Corporate Income Tax under a declaration.

...

Hence, for an enterprise to apply Corporate Income Tax incentives, the primary condition is that the enterprise must implement accounting policies, invoices, documentation, and pay Corporate Income Tax under a declaration.