Income is exempt when calculating corporate income tax

Income is exempt when calculating Corporate Income Tax

Pursuant to Circular 78 of 2014, Circular 151 of 2014, Circular 96 of 2015 of the Ministry ofmain i then the following fees will be exempted Corporate income tax:

1. Income from farming, animal husbandry, farming, processing agricultural and aquatic products, and salt production of cooperatives; Income of cooperatives operating in the fields of agriculture, forestry, fishery, and salt production in areas with difficult socio-economic conditions or in areas with special socio-economic conditions especially difficult; Income of businesses from farming, raising livestock, cultivating and processing agricultural and aquatic products in areas with particularly difficult socio-economic conditions; Income from fishing activities.
2. Income from performing technical services directly serving agriculture includes: income from irrigation and drainage services; plowing and harrowing the land; dredging canals and infield ditches; pest and disease prevention services for plants and animals; agricultural product harvesting services.
3. Income from the performance of scientific research and technology development contracts according to the provisions of the law on science and technology is exempt from tax during the contract implementation period but for a maximum of 03 years from the date of commencement. Revenue from performing scientific research and technology development contracts;

Income from selling products made from new technology applied for the first time in Vietnam according to the provisions of law and instructions of the Ministry of Science and Technology is exempt from tax for a maximum of 05 years from the date of business establishment. revenue from product sales;

Income from selling trial-produced products during the trial production period according to the provisions of law.

4. Income from production and business activities of goods and services of enterprises with an average number of employees who are disabled people, people recovering from drug addiction, and people infected with HIV in the year accounts for 30% or more of the total number of employees. Average annual performance of the enterprise.
5. Income from vocational training activities reserved for ethnic minorities, people with disabilities, children in extremely difficult circumstances, subjects of social evils, people recovering from drug addiction, people recovering from drug addiction, and people living with HIV /AIDS. In case the vocational training establishment also includes other subjects, the tax-exempt income is determined corresponding to the proportion of students who are ethnic minorities, people with disabilities, children in particularly difficult circumstances, and those with disabilities. social evils, people recovering from drug addiction, people recovering from drug addiction, and people living with HIV/AIDS among the total number of students.
6. Income is divided from activities of capital contribution, share purchase, joint venture, economic association with domestic enterprises, after the recipient of capital contribution, stock issuance, joint venture or association has paid corporate income tax. enterprises according to the provisions of the Law on Corporate Income Tax, including cases where the party receiving capital contribution, stock issuance, joint venture party, or association is entitled to incentives. Corporate income tax.
7. The grant received is to be used for educational activities, scientific research, culture, art, charity, humanitarian and other social activities in Vietnam.
8. Income from the first transfer of emission reduction certificates (CERs) of enterprises that are granted emission reduction certificates; Subsequent transfers must pay corporate income tax according to regulations.
9. Income from performing State-assigned tasks of the Vietnam Development Bank in development investment credit and export credit activities; income from credit activities for the poor and other policy beneficiaries of the Bank for Social Policies; income of a single-member limited liability company managing assets of Vietnamese credit institutions; income from revenue-generating activities due to the performance of State-assigned tasks of State financial funds: Vietnam Social Insurance Fund, Deposit Insurance Organization, Health Insurance Fund, Vocational Training Support Fund, Overseas Employment Support Fund under the Ministry of Labor, War Invalids and Social Affairs, Farmers Support Fund, Vietnam Legal Aid Fund, Public Telecommunications Fund, Local Development Investment Fund, Environmental Protection Fund Vietnamese schools, Credit guarantee fund for small and medium enterprises, Cooperative development support fund, Poor women support fund, Protection fund for citizens and legal entities abroad, Housing development fund, Fund Small and medium-sized enterprise development, National Science and Technology Development Fund, National Technology Innovation Fund, Capital support fund for poor workers to create their own jobs, income from performing State tasks allocated by the Land Development Fund and other State funds operating for non-profit purposes prescribed or decided by the Government or the Prime Minister, established and operating in accordance with the provisions of law.
10. Undivided income
11. Income from technology transfer belongs to the priority areas for transfer to organizations and individuals in areas with particularly difficult socio-economic conditions.
12. Income of the bailiff's office (except income from activities other than bailiff activities) during the pilot implementation period according to the provisions of law on civil judgment enforcement.

Contact AACS immediately for advice and support.

AACS AUDITING COMPANY LIMITED

Phone: 028 66 500 381 – Mobile: 0908 381 550 (Mr Manh) – Mobile: 0908 688 550 (Ms Phuong)

Email: info@aacs.com.vn