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02 cases of application for corporate income tax exemption and reduction for science and technology enterprises in Vietnam

Đức Thảo

14:50, 21/01/2021

Recently, the Ministry of Finance of Vietnam issued the Circular No. 03/2021/TT-BTC providing guidance on remission of corporate income tax incurred by science and technology enterprises as prescribed in the Government’s Decree No. 13/2019/ND-CP dated February 01, 2019 on science and technology enterprises (STE).

According to the Circular No. 03/2021/TT-BTC of the Ministry of Finance of Vietnam, an STE will receive CIT remission as prescribed in Clause 1 Article 12 of the Vietnam Government’s Decree No. 13/2019/ND-CP dated February 01, 2019. To be specific: The STE will have its CIT payable exempted in 04 years and reduced by 50% in the subsequent 09 years.

02 cases of application for corporate income tax exemption and reduction for science and technology enterprises in Vietnam are as follows:

- If the STE has received or is receiving CIT incentives under other conditions (in addition to incentives given to STEs) and is issued with an STE certificate, the duration during which it will receive CIT remission as an STE will be the CIT remission duration given to the STE minus the period during which it has received CIT remission under other conditions.

- If additional science and technology products are added by a competent authority to the STE certificate of an STE that is operating and receiving CIT remission for an STE, the revenue from such additional science and technology products shall be also eligible for the CIT remission that the STE is receiving for the remaining CIT remission duration.

Circular No. 03/2021/TT-BTC of the Ministry of Finance of Vietnam takes effect from March 01, 2021.

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