Taxation

¤ Circular No. 212/2015/TT-BTC dated 31 December 2015 guiding corporate income tax in respect of enterprises conducting environmental protection activities.

  • Pursuant to Circular 212, certain expenses for environmental protection shall be deducted from taxable income, provided that the enterprises have full proper invoices and transactions of more than VND20 million must not be made in cash, including expenses for advertising products from environmental protection, recycling and discharge handling activities, costs for movies, documentary programs on environmental protection, and for provision of environmental protection tools to people free of charge.
  • In addition, enterprises implementing new project on certain environmental protection sectors shall be exempted from corporate income tax (CIT) for four years and discounted 50% for the next nine years from the first year having taxable income or the fourth year having revenue.
  • CIT rate applicable to such enterprises shall be 10% within 15 years or up to 30 years for big scale or special projects, or whole operation term for income arising from civilization activities.

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