{"id":14153,"date":"2021-06-30T08:22:21","date_gmt":"2021-06-30T08:22:21","guid":{"rendered":"https:\/\/bizlawyer.vn\/update-on-the-latest-tax-incentives-in-the-field-of-supporting-industry"},"modified":"2021-07-27T02:13:10","modified_gmt":"2021-07-27T02:13:10","slug":"update-on-the-latest-tax-incentives-in-the-field-of-supporting-industry","status":"publish","type":"post","link":"https:\/\/bizlawyer.vn\/zh-hans\/update-on-the-latest-tax-incentives-in-the-field-of-supporting-industry","title":{"rendered":"Update on the latest tax incentives in the field of Supporting Industry"},"content":{"rendered":"<p>On June 4, 2021, the Government issued Decree No. 57\/2021\/ND-CP (\u201c<strong>Decree 57<\/strong>\u201d) amending and supplementing Decree No. 218\/2013\/ND-CP on Corporate Income Tax (\u201c<strong>CIT<\/strong>\u201d) for projects producing supporting industry products (\u201c<strong>supporting industry<\/strong>\u201d) implemented before January 1, 2015, and has been granted Certificate of Incentives for production of supporting industry products.<br \/>\nThis newsletter reviews the following main points: <em><strong>(1) What are supporting industry products? (2) Subjects eligible for incentives under Decree 57.<\/strong><\/em><br \/>\n<strong>1. What are supporting industry products?<\/strong><br \/>\nAccording to Clause 1, Article 3 of Decree 111\/2015\/ND-CP stipulating support and preferential policies for the development of supporting industries, the following are defined: \u201cSupporting industries are industries that produce raw materials, materials, components and spare parts for the production of finished products\u201d.<br \/>\nDetails of the List of Supporting Industry Products are specified at:<br \/>\n&#8211; Appendix 1: List of supporting industrial products prioritized for domestic development that can be produced before January 1, 2015 <em>(issued together with Circular No. 55\/2015\/TT-BCT dated December 30, 2015, of the Ministry of Industry and Trade);<\/em><br \/>\n&#8211; Appendix: List of supporting industry products prioritized for development<em> (Issued together with Decree No. 111\/2015\/ND-CP dated November 3, 2015, of the Government).<\/em><br \/>\n<strong>2. Subjects eligible for incentives under Decree 57<\/strong><br \/>\nBeing an enterprise with an investment project (new investment and expansion investment) producing supporting industry products (\u201c<strong>Enterprise<\/strong>\u201d), implemented before January 1, 2015, has been granted Certificate of Incentives for production of supporting industry products by The Competent Authority:<br \/>\n<span style=\"text-decoration: underline;\">a. Subject 1:<\/span> Enterprises whose income from the project of producing supporting industry products has not yet enjoyed CIT incentives.<br \/>\n<span style=\"text-decoration: underline;\">b. Subject 2:<\/span> Enterprises whose incomes from projects to produce supporting industry products have enjoyed all CIT incentives under other preferential conditions (besides preferential conditions for supporting industry products production projects).<br \/>\n<span style=\"text-decoration: underline;\">c. Subject 3:<\/span> Enterprises that earn income from supporting industry product production projects are enjoying CIT incentives under other preferential conditions (besides preferential conditions for supporting industry products production projects).<br \/>\n<strong>Meaning of Decree 57:<\/strong><br \/>\nThere are two particularly important meanings from the implementation of Decree 57:<br \/>\n<span style=\"text-decoration: underline;\">&#8211; Firstly:<\/span> It has special meaning for enterprises in the field of supporting industry. Through the CIT incentive policy, businesses can partly overcome financial difficulties due to the complicated impact of the Covid-19 pandemic, which directly and deeply affects the financial situation for a long time and has no end yet.<br \/>\n<span style=\"text-decoration: underline;\">&#8211; Secondly:<\/span> Decree 57 has recognized the Government&#8217;s efforts in policy reform and creating a favorable business environment for enterprises.<br \/>\n<em>Decree 57 takes effect from the date of signing (June 4, 2021).<\/em><br \/>\nHope the above information is helpful to The Esteemed Readers.<br \/>\n<em><strong>Bizlawyer is pleased to accompany The Esteemed Readers!<\/strong><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>On June 4, 2021, the Government issued Decree No. 57\/20 [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":14222,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[],"class_list":["post-14153","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-16"],"_links":{"self":[{"href":"https:\/\/bizlawyer.vn\/zh-hans\/wp-json\/wp\/v2\/posts\/14153","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bizlawyer.vn\/zh-hans\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bizlawyer.vn\/zh-hans\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bizlawyer.vn\/zh-hans\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/bizlawyer.vn\/zh-hans\/wp-json\/wp\/v2\/comments?post=14153"}],"version-history":[{"count":0,"href":"https:\/\/bizlawyer.vn\/zh-hans\/wp-json\/wp\/v2\/posts\/14153\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bizlawyer.vn\/zh-hans\/wp-json\/wp\/v2\/media\/14222"}],"wp:attachment":[{"href":"https:\/\/bizlawyer.vn\/zh-hans\/wp-json\/wp\/v2\/media?parent=14153"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bizlawyer.vn\/zh-hans\/wp-json\/wp\/v2\/categories?post=14153"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bizlawyer.vn\/zh-hans\/wp-json\/wp\/v2\/tags?post=14153"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}