On August 21, 2019, the Politburo issued Circular 54/2019 / TT-BTC guiding the management and use of state budget funding to support small and medium enterprises (SMEs) using consultancy services of the network of consultant. This Circular takes effect on October 10, 2019.
Accordingly, Circular 54/2019 / TT-BTC has the following highlights:
– SMEs using consulting services belonging to a network of consultants supported by the state budget: Micro enterprises are supported 100% of consulting contract value, but not exceeding VND 3 million per year; Small businesses are entitled to a maximum reduction of 30% of the value of the consultancy contract, but not exceeding VND 05 million per year; Enterprises have been reduced maximum 10% of the value of the consulting contract, but not exceeding 10 million per year;
– In the case that SMEs have used consulting services under the network of consultants and supported by the state budget but the support value has not exceeded the above-mentioned level, SMEs will only be supported for the rest and This content must be clearly reported in the dossier sent to the SME support unit for review and decision on approval of consultancy support.
As such, the issuance Circular 54/2019/TT-BTC provides detailed guidance on the management and use of state budget funding to support small and medium-sized enterprises using consulting services under the network of consultants. This creats favorable conditions for SMEs to conmpete effectively in market economy nowadays.