Vietnam: Subjects eligible for exemption from contributions to natural disaster prevention and control funds

According to Decree No. 94/2014/ND-CP of Vietnam’s Government, the following subjects are eligible for exemption from or reduction or suspension of payment of contributions to natural disaster prevention and control funds:

Subjects eligible for exemption from contributions:

- War invalids and diseased soldiers and persons eligible for the policy applicable to war invalids;

- Natural parents and spouses of fallen soldiers;

- Persons who are performing their military service duty in the armed forces, and noncommissioned officers and soldiers serving for a given term in the People’s Public Security Forces and enjoying cost-of-living allowance;

- Students studying under long-term formal training programs at universities, colleges, intermediate and vocational training schools;

- Persons with disabilities or persons who have lost 21% or more of their working capacity and people suffering from dangerous diseases certified by district- or higher-level health establishments;

- Persons who are unemployed or do not have any job for 6 months or more in a year;

- Members of poor households or households living just above the poverty line; members of households in mountainous, remote and deep-lying areas; members of households suffering from damage caused by natural disasters, epidemics, fires, explosions or accidents;

- Cooperatives that have no source of revenues;

- Independent accounting-practicing economic organizations that have spent more than 0.02% of their total asset value on repairing and purchasing assets, workshops and equipment or postponed production and business for 5 days or more in a year due to damage caused by natural disasters.

Subjects eligible for reduction or suspension of payment of contributions:

Independent accounting-practicing economic organizations eligible for enterprise income tax exemption or reduction shall be considered for reduction or suspension of payment of contributions to funds.

View more details at Decree No. 94/2014/ND-CP of Vietnam’s Government, effective from December 08, 2014.

Thu Ba

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