What are trực tiếp bóng đá k+ conditions for a science and technology enterprise to be eligible for corporate income tax reduction incentives in Vietnam?

What are trực tiếp bóng đá k+ conditions for a science and technology enterprise to be eligible for corporate income tax reduction incentives in Vietnam?

According to Article 2 ofCircular 03/2021/TT-BTC, trực tiếp bóng đá k+ conditions for a science and technology enterprise to be eligible for corporate income tax reduction incentives include trực tiếp bóng đá k+ following four conditions:

Firstly, trực tiếp bóng đá k+ enterprise must be granted a Certificate of Science and Technology Enterprise by a competent state management agency.

Secondly, trực tiếp bóng đá k+ annual revenue from production and business activities of products formed from scientific and technological results must account for at least 30% of trực tiếp bóng đá k+ total annual revenue of trực tiếp bóng đá k+ enterprise.

In which:

- Annual revenue from production and business activities of products formed from scientific and technological results is trực tiếp bóng đá k+ revenue from all products formed from scientific and technological results as stipulated in Clause 1, Article 2 ofDecree No. 13/2019/ND-CP.

- trực tiếp bóng đá k+ total annual revenue of trực tiếp bóng đá k+ enterprise includes all revenue from production, business, services, financial activities, and other income of trực tiếp bóng đá k+ enterprise (total revenue also includes revenue from production and business activities of products formed from scientific and technological results for that year).

Thirdly, revenue generated from services applying scientific and technological results in trực tiếp bóng đá k+ field of information technology should be revenue from new services, excluding existing services in trực tiếp bóng đá k+ market.

trực tiếp bóng đá k+ criteria and basis for determining services applying scientific and technological results in trực tiếp bóng đá k+ field of information technology as new services are implemented in accordance with regulations of trực tiếp bóng đá k+ Ministry of Science and Technology.

Fourthly, science and technology enterprises must separately account for income from production and business activities of products formed from scientific and technological results to avail of corporate income tax incentives.

If trực tiếp bóng đá k+ enterprise cannot account separately, trực tiếp bóng đá k+ income from production and business activities of products formed from scientific and technological results eligible for corporate income tax incentives is allocated according to trực tiếp bóng đá k+ provisions in Clause 2, Article 18 ofLaw on Corporate Income Tax 2008.

Additionally, to be eligible for corporate income tax incentives, trực tiếp bóng đá k+ science and technology enterprise must comply with accounting, invoicing, and document policies as prescribed by law and pay taxes based on declarations.

What are trực tiếp bóng đá k+ conditions for a science and technology enterprise to be eligible for corporate income tax reduction incentives in Vietnam?(Image from Internet)

What is trực tiếp bóng đá k+ duration ofcorporate income tax reduction incentives forscience and technology enterprises in Vietnam?

According to Clause 1, Article 3 ofCircular 03/2021/TT-BTC, trực tiếp bóng đá k+ duration of corporate income tax reduction incentives is as follows:

- Science and technology enterprises with income from production and business activities of products formed from scientific and technological results are entitled to corporate income tax exemption and reduction as enterprises implementing new investment projects in trực tiếp bóng đá k+ field of scientific research and technological development, specifically: 4 years of tax exemption and a 50% reduction in trực tiếp bóng đá k+ payable tax amount for trực tiếp bóng đá k+ next 9 years.

- trực tiếp bóng đá k+ tax exemption and reduction period for a science and technology enterprise is calculated continuously from trực tiếp bóng đá k+ date of being granted trực tiếp bóng đá k+ Certificate of Science and Technology Enterprise.

If there is no taxable income in trực tiếp bóng đá k+ first three years from trực tiếp bóng đá k+ first year of being granted trực tiếp bóng đá k+ Certificate of Science and Technology Enterprise, trực tiếp bóng đá k+ first year for calculating tax exemption, reduction starts from trực tiếp bóng đá k+ fourth year.

- During trực tiếp bóng đá k+ tax exemption and reduction period, if in any year trực tiếp bóng đá k+ science and technology enterprise does not meet trực tiếp bóng đá k+ revenue condition of products formed from scientific and technological results reaching at least 30% of trực tiếp bóng đá k+ total annual revenue, that year trực tiếp bóng đá k+ enterprise is not entitled to incentives and trực tiếp bóng đá k+ period of enjoying corporate income tax incentives is deducted accordingly.

- In trực tiếp bóng đá k+ event a science and technology enterprise has taxable income but trực tiếp bóng đá k+ production and business operation period exempted from taxation in trực tiếp bóng đá k+ first year is less than 12 months, trực tiếp bóng đá k+ enterprise can choose to enjoy tax exemption and reduction in trực tiếp bóng đá k+ first year or register with trực tiếp bóng đá k+ tax authority for trực tiếp bóng đá k+ exemption and reduction period to begin in trực tiếp bóng đá k+ following year. If trực tiếp bóng đá k+ enterprise registers for exemption and reduction in trực tiếp bóng đá k+ subsequent year, it must calculate trực tiếp bóng đá k+ payable tax for trực tiếp bóng đá k+ first year with taxable income and pay it to trực tiếp bóng đá k+ State Budget as prescribed.

What are procedures forcorporate income tax reduction in Vietnam?

According to Article 4 ofCircular 03/2021/TT-BTC, trực tiếp bóng đá k+ corporate income tax reduction procedure for science and technology enterprises is implemented as follows:

- trực tiếp bóng đá k+ procedure for implementing corporate income tax incentives is carried out in accordance with tax laws on corporate income tax and tax administration.

- Science and technology enterprises shall self-determine trực tiếp bóng đá k+ corporate income tax amount entitled to incentives and declare it in trực tiếp bóng đá k+ Schedule of Corporate Income Tax Incentives for Science and Technology Enterprises. trực tiếp bóng đá k+ Schedule of Corporate Income Tax Incentives accompanies trực tiếp bóng đá k+ annual corporate income tax finalization declaration.