Official letter No. 70284/CT-TTHT dated July 29th 2020 issued by Hanoi City Tax Department about Guidance on applying CIT incentive period.
According to this Official letter, in case investment project X is granted the first investment registration certificated by the Management Board of Hanoi Industrial and Export Processing Zones on November 12, 2019 with the project implementation period is 5 years from the granting dated of the certificate, the investment project is located in the industrial park, and not located in a socio-economic locality with favorable conditions.
If this project of the Company meets condition as a new investment project according to the Government’s regulations, the income from this project is applied CIT incentives according to the actual conditions and the exemption or reduction period is determined according to the Investment Law, the Corporate Income Tax Law and other related regulation.
However, at the end of the project implementation period according to the first investment registration certificate, the Company is not entitled to apply CIT incentives under the new investment project, but shall declare and pay CIT in accordance with regulations.
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