Shall trực tiếp bóng đá k+ tax incentive program for automobile supporting industry in Vietnam be extended until December 31, 2027?

Shall trực tiếp bóng đá k+ tax incentive program for automobile supporting industryin Vietnam be extended until December 31, 2027?

Pursuant to Article 9 ofDecree 26/2023/ND-CPregarding trực tiếp bóng đá k+ tax incentive program for automobile supporting industry, a preferential import tax rate of 0% is applied to materials, supplies, and components not yet produced domestically for manufacturing, processing (assembling) products that are prioritized for trực tiếp bóng đá k+ development of trực tiếp bóng đá k+ automotive manufacturing and assembly industry (referred to as automotive supporting industry products) until December 31, 2024.

To date, trực tiếp bóng đá k+ implementation period for trực tiếp bóng đá k+ tax incentive program for automobile supporting industry is nearing its end, while trực tiếp bóng đá k+ tax incentive program for manufacturing and assembling automobiles prescribed in Article 8 ofDecree 26/2023/ND-CPwill continue until 2027.

Therefore, to further support enterprises and enhance trực tiếp bóng đá k+ role of trực tiếp bóng đá k+ automotive supporting industry, trực tiếp bóng đá k+ Ministry of Finance has presented a proposal for a draft decree amending and supplementing Article 9 of Decree 26/2023/ND-CP, suggesting an extension of trực tiếp bóng đá k+ tax incentive program for automobile supporting industry. Thus, when trực tiếp bóng đá k+ amended and supplementary decree takes effect, automotive supporting industry products will continue to benefit from a 0% preferential import tax rate until December 31, 2027.

Tải vềtrực tiếp bóng đá k+ proposal and draft decree amending and supplementing Article 9 of Decree 26/2023/ND-CP.

Shall trực tiếp bóng đá k+ tax incentive program for automobile supporting industry in Vietnam be extended until December 31, 2027?(Image from trực tiếp bóng đá k+ Internet)

What are trực tiếp bóng đá k+ eligibility requirements for applying trực tiếp bóng đá k+ tax incentive program for automobile supporting industry in Vietnam?

Based on Clause 3, Article 9 ofDecree 26/2023/ND-CPthat stipulates eligibility requirements for applying trực tiếp bóng đá k+ tax incentive program for automobile supporting industry:

(1)For enterprises manufacturing, processing (assembling) automotive components and parts:

- Must have a sales contract for automotive supporting industry products with automobile manufacturing and assembling enterprises possessing a Certificate of Eligibility for Automobile Manufacturing and Assembly issued by trực tiếp bóng đá k+ Ministry of Industry and Trade;

- Must have an Investment Certificate or Business Registration Certificate or Certificate of Enterprise Registration or Certificate of Business Registration specifying trực tiếp bóng đá k+ project’s objectives or business sectors involving trực tiếp bóng đá k+ production of parts and auxiliary components for automobiles and other motor vehicles;

- Must have ownership or usage rights over trực tiếp bóng đá k+ manufacturing, processing (assembling) facilities and machinery, equipment at a manufacturing, processing (assembling) facility within trực tiếp bóng đá k+ territory of Vietnam.

(2)For enterprises manufacturing, assembling automobiles that self-produce, process (assemble) automotive components and parts: Must have a Certificate of Eligibility for Automobile Manufacturing and Assembly issued by trực tiếp bóng đá k+ Ministry of Industry and Trade.

(3)For imported materials, supplies, components:

- Imported materials, supplies, components (including those imported from trực tiếp bóng đá k+ effective date ofNghị định 26/2023/NĐ-CPand still in stock carried forward to subsequent incentive periods for manufacturing, processing (assembling) automotive supporting industry products in subsequent incentive periods; excluding materials, supplies, components put into use but defective or faulty) for manufacturing, processing (assembling) automotive supporting industry products listed in trực tiếp bóng đá k+ Priority Development List for trực tiếp bóng đá k+ Automotive Manufacturing and Assembly Industry specified in Section 4, Appendix issued withDecree 111/2015/ND-CP.

In cases where products are merely assembled using simple devices like screws, bolts, nuts, rivets, and do not undergo any manufacturing or processing to become a finished product, they are not eligible for trực tiếp bóng đá k+ tax incentive program for automobile supporting industry.

- Imported materials, supplies, components not yet produced domestically, imported directly or consigned or authorized for import by trực tiếp bóng đá k+ enterprise prescribed in Clause 2, Article 9 ofDecree 26/2023/ND-CP. trực tiếp bóng đá k+ determination of materials, supplies, components not yet produced domestically shall be based on trực tiếp bóng đá k+ regulations of trực tiếp bóng đá k+ Ministry of Planning and Investment regarding trực tiếp bóng đá k+ List of domestically producible materials, supplies, and semi-finished products.

Note: Enterprises manufacturing, processing (assembling) automotive components, and enterprises manufacturing, assembling automobiles, self-producing, processing (assembling) automotive components meeting trực tiếp bóng đá k+ above eligibility requirements and regulations in Clauses 4, 5, 6, 7, and 8 of Article 9 ofDecree 26/2023/ND-CPare eligible for a 0% preferential import tax rate on imported materials, supplies, and components for trực tiếp bóng đá k+ production, processing (assembling) of automotive supporting industry products during trực tiếp bóng đá k+ evaluated incentive period.

Vietnam: What does trực tiếp bóng đá k+ application for participation in trực tiếp bóng đá k+ tax incentive program for automobile supporting industry include?

Pursuant to point a, Clause 5, Article 9 ofDecree 26/2023/ND-CPstipulating trực tiếp bóng đá k+ application for participation in trực tiếp bóng đá k+ tax incentive program for automobile supporting industry:

- 01 original Official Dispatch registering for participation in trực tiếp bóng đá k+ tax incentive program for automobile supporting industry according to Form No. 08, Appendix 2 issued withDecree 26/2023/ND-CP.

- 01 certified copy of trực tiếp bóng đá k+ Investment Certificate or Business Registration Certificate or Enterprise Registration Certificate or Business Registration Certificate (applicable for enterprises manufacturing, processing (assembling) automotive components and parts).

- 01 original Notice Document of manufacturing, processing (assembling) facilities; machinery, equipment at manufacturing, processing (assembling) facilities for customs authorities according to Form No. 09, Appendix 2 issued withDecree 26/2023/ND-CP(applicable for enterprises manufacturing, processing (assembling) automotive components and parts).

- 01 certified copy of trực tiếp bóng đá k+ Land Use Right Certificate issued by a competent state agency to trực tiếp bóng đá k+ enterprise or Land Use Right Certificate issued by a competent authority to trực tiếp bóng đá k+ landowner and a leasing, borrowing contract for land, premises, workshop in case trực tiếp bóng đá k+ enterprise builds a manufacturing facility on leased premises.

- 01 certified copy of trực tiếp bóng đá k+ Certificate of Eligibility for Automobile Manufacturing and Assembly issued by trực tiếp bóng đá k+ Ministry of Industry and Trade (applicable for enterprises manufacturing, assembling automobiles, self-producing, processing (assembling) automotive components and parts).