Tax rate of 17% for a period of 10 years for enterprises in Vietnam

BichNgoc January 16, 2022

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Legal grounds

Law on Corporate Income Tax 2008 (amended and supplemented in 2013, 2014, 2020)

Tax rate of 10% for a period of 15 years for enterprises in Vietnam

Firstly

Incomes of enterprises from implementing new investment projects in areas with extremely difficult socio-economic conditions, economic zones, high-tech zones.

Secondly

Incomes of enterprises from the implementation of new investment projects, including:

So scientific research and technological development; then high-tech applications on the list of high-tech prioritized for development investment; high-tech incubation, high-tech enterprise incubation; venture capital investment for high-tech development on the list of high-tech prioritized for development investment;

investment in construction and business of hi-tech incubators, hi-tech enterprise incubation; investment in the development of especially important infrastructure of the State; software product production; production of composite materials, all kinds of light construction materials, rare and precious materials; produce renewable energy, clean energy, energy from waste destruction; biotechnology development; environmental Protection;

Thirdly

Incomes of hi-tech enterprises and hi-tech agricultural enterprises.

You can also refer to the article related to company division in Vietnam, or Registration company in Vietnam after a full or partial division, Cease existence of divided company in Vietnam or Names of Vietnam’s branches and representative offices.

Then

Incomes of enterprises from implementing new investment projects in the field of production (except for projects of producing goods subject to excise tax, mining projects) satisfying either of the following conditions: the following criteria:

Projects with a minimum investment capital of VND 6,000 billion, disbursed within 3 years from the date of issuance of the Investment Certificate and with a total turnover of at least VND 10,000 billion/year, no later than after 03 years from the year of revenue;
The project has a minimum investment capital of 6,000 billion VND, disbursed within 03 years from the date of issuance of the Investment Certificate and employs more than 3,000 employees.

Finally

Incomes of enterprises from implementing new investment projects to produce products on the list of supporting industry products prioritized for development, meeting one of the following criteria:

Industrial products to support high technology;
Industrial products to support the production of products of the following industries: textile – garment; leather – shoes; electronics and information technology; automobile production and assembly; mechanical engineering, which as of January 1, 2015 cannot be produced domestically or can be manufactured but must meet technical standards of the European Union (EU) or equivalent.

In addition, income of the enterprise from the implementation of investment projects in the field of production, excluding projects for the production of goods subject to excise tax and mining projects, with a minimum investment capital scale. 12,000 billion, using technology must be appraised according to the provisions of the Law on High Technology, Law on Science and Technology, disbursing the total registered investment capital within 05 years from the date of investment permit.

Tax rate of 17% for a period of 10 years for enterprises in Vietnam

(1) Firstly, Incomes of enterprises from implementing new investment projects in areas with difficult socio-economic conditions;

(2) Secondly, Income of enterprises from implementation of new investment projects, including: production of high-grade steel; produce energy-saving products; manufacturing machinery and equipment for agriculture, forestry, fishery and salt production; production of irrigation equipment; producing and refining animal, poultry and aquatic feed; traditional industry development.

Related questions

Corporate income tax means?

Corporate income tax is a mandatory contribution to be enacted by the State through legislation. How many types of corporate taxes are there? Taxes are divided according to each criterion. Based on taxable objects, we have income tax, consumption tax, and property tax. Based on the method of taxation, we have indirect taxes and direct taxes.

The corporate income tax rates?

The corporate income tax rates comply with the provisions of Article 11 of Circular 78/2014/TT-BTC. Therefore, there are the following CIT rates:
Tax rate of 20%: This is the common tax rate applied to most businesses in accordance with Vietnamese law.
Tax rate from 32% – 50%: Applied to enterprises working in the field of oil and gas exploration and production.
The rate of 50%: CIT rate for the search, exploration and exploitation of precious and rare natural resource mines in Vietnam. These include: silver, tin, gold, platinum, precious stones, rare earths excluding petroleum, tungsten and antimony.
Preferential tax rate of 10%: Applied to enterprises with operating income from the following industries and services:
Enterprises with income from new investment projects in: High-tech zones, economic zones and areas with extremely difficult socio-economic conditions.

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