Today: 02/12/2021 11:35:45 (GMT+7)
THE CENTRAL AGENCY OF THE COMMUNIST PARTY OF VIETNAM BAC GIANG PROVINCE THE VOICE OF THE PARTY, GOVERNMENT AND PEOPLE OF BAC GIANG PROVINCE

Bac Giang exempts science-technology enterprises from income tax

Bac Giang province now has 10 enterprises operating in the field of science and technology, according to the provincial Tax Department.

They are Tuyet Thanh Mechanical One Member Limited Company and Hung Thao Mechanical Joint Stock Company (Tan Yen district); Ha Bac Pear Company Limited (Luc Nam district); Bac Son Forest, Medical and Pharmaceutical Joint Stock Company; Hoa Hoa Herbal Development One Member Limited Company, Bac Giang Pharmaceutical Joint Stock Company, and Hop Tien Commercial and Mechanical Joint Stock Company (Bac Giang city); Bac Giang Seed Joint Stock Company and Thong Nhat Trading and Service Joint Stock Company (Lang Giang district); and Haem Vina Company Limited in the Song Khe - Noi Hoang Industrial Park.

Bac Giang, science-technology enterprises, income tax

Illustrative photo.

Implementing Circular 03/2021/TT-BTC dated January 11, 2021 of the Ministry of Finance providing guidance on exemption and reduction of corporate income tax for science-technology firms, this year, the taxation sector has directed specialized agencies to focus on guiding the units to complete tax exemption and reduction dossiers. Accordingly, the above enterprises are entitled to corporate income tax exemption for 4 years and a reduction of 50 percent of payable tax within the next 9 years.

The tax exemption or reduction period is calculated continuously from the date when a company is granted the science-technology enterprise certificate. If in the first 3 years, the business has no taxable income, the time is counted starting from the fourth year.

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Bac Giang, science-technology enterprises, income tax
 
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