Proposal to apply preferential corporate income tax for some projects

The draft Law on Corporate Income Tax (amended) stipulates more clearly and in detail the subjects of corporate income tax incentives (industries, occupations, localities and activities eligible for incentives) on the basis of inheriting the fields, occupations, localities and activities eligible for tax incentives under current regulations but with review, arrangement and rationalization to avoid duplication.

Specifically, the draft adds a provision to apply a corporate income tax rate of 10% for a period of 15 years to new investment projects in economic zones located in areas with difficult or extremely difficult socio-economic conditions. At the same time, the Government is assigned to determine tax incentives for cases where the project location is located in both areas eligible for corporate income tax incentives and areas not eligible for tax incentives to meet management requirements in each phase.

Ministry of Finance proposes to apply preferential corporate income tax of 17% for projects supporting small and medium enterprises

At the same time, supplement the regulation on applying a preferential tax rate of 15% to the income of press agencies from press activities other than print newspapers. Print newspapers will continue to apply the rate of 10% as currently regulated.

The Ministry of Finance also proposed applying a preferential tax rate of 17% for 10 years to projects including: investment in technical facilities to support small and medium-sized enterprises and incubators for small and medium-sized enterprises; investment in co-working spaces to support small and medium-sized enterprises starting up creative businesses according to the Law on Support for Small and Medium-sized Enterprises; investment projects in economic zones but not located in areas with difficult or especially difficult socio-economic conditions.

Supplementing regulations on the application of preferential tax rates for projects subject to special incentives as stipulated in the 2020 Investment Law to ensure consistency. At the same time, the draft also amends and supplements regulations on the time of application of preferential tax rates for a number of cases to suit the reality, including high-tech enterprises, high-tech agricultural enterprises, science and technology enterprises, high-tech application projects, and supporting industrial product manufacturing projects to overcome shortcomings and difficulties from the practical implementation of the Law on Corporate Income Tax in the recent period.

Source: https://thanhnien.vn/de-xuat-ap-dung-thue-thu-nhap-doanh-nghiep-uu-dai-cho-mot-so-du-an-18524061315442041.htm