With great potential amid the ever-growing importance of science and technology, Vietnam has promoted investment in this field by offering tax incentives and resources. Former Minister of Science and Technology Nguyen Quan talks about the limitations in legal documents that regulate science-technology investment in Vietnam and recommendations for the country to unlock its potential in this field. Vietnam needs to ensure consistency in legal documents on science and technology development to tap its potentials. — VNA/VNS Photo Anh Tuan Early this year, the Finance Ministry issued Circular 03/2021/TT-BTC on Corporate Income Tax (CIT) exemption and reduction policies for science-technology enterprises. What is new in this circular? Similar tax incentives on science-technology companies were stipulated in two decrees in 2007 and 2010 respectively and another circular. This new document is expected to make tax procedures easier for science-technology businesses. However, there are some limitations in Circular 03. For example, previous legal documents regulated that science-technology businesses are entitled to the same tax incentives applied for high technology (hi-tech) companies or those investing in hi-tech parks. This means that they enjoy tax rate of 10 per cent for 15 years or during the life span of the project. However, Circular 03 doesn't specify CIT rates to… Read full this story
- Growing momentum in semiconductor manufacturing in Vietnam
- The Personal Computer Is Dead
- Patent Prescription
- Drowning in Sound
- Sensors and Sensibility
- The Journal of Heart and Lung Transplantation: 50 years of heart transplantation progress
- Who Killed the Virtual Case File?
- The Athens Affair
- Iran's Nuclear Program Reaches Critical Juncture
Consistency in legal documents needed to develop science and technology: expert have 244 words, post on vietnamnet.vn at March 10, 2021. This is cached page on VietMaz. If you want remove this page, please contact us.