The General Department of Taxation responded about corporate income tax (CIT) incentives for supporting industry products according to an official dispatch from the Tax Department of Ha Nam province. Main content includes:
Legal basis:
– According to Law No. 71/2014/QH13, businesses invest in the production of pharmaceutical products List of supporting industrial products prioritized for development Meet the criteria (such as high technology or textile, footwear, electronics, mechanical manufacturing…) to enjoy corporate income tax incentives.
– Circular No. 21/2016/TT-BTC and Circular No. 96/2015/TT-BTC provide detailed regulations on incentive levels:
- Tax rate of 10% for 15 years.
- Tax exemption for 4 years and 50% reduction for the next 9 years.
– Conditions to enjoy incentives are must Certificate of incentives for manufacturing supporting industrial products issued by the Ministry of Industry and Trade.
Specific cases:
- Vu Gia International Company Limited (Dong Van IV Industrial Park, Ha Nam) producing Polyester plastic cotton fiber products (HS 55032090) has been granted preferential certificate No. 5181/GXN-BCT by the Ministry of Industry and Trade.
- Income arising from this product is entitled to tax incentives according to regulations from the time of issuance of the Certificate.
Conclude:
Enterprises producing supporting industrial products that are granted preferential certificates can apply preferential corporate income tax policies in accordance with the law.
Click here to see details of official dispatch 5443/TCT-CS 2024 corporate income tax policy
