Decree 11 details a number of articles of Resolution 98/2023 of the National Assembly on piloting a number of specific mechanisms and policies for the development of Ho Chi Minh City (hereinafter referred to as Resolution 98/2023/QH15 - NQ98). It mentions exemption of corporate income tax (CIT) for innovative start-up enterprises, science and technology organizations, innovation centers and intermediary organizations supporting innovative start-ups (collectively referred to as enterprises) with income from innovative start-up activities arising in Ho Chi Minh City are exempted from CIT on this income. Enterprises with income exempted from CIT as prescribed in this clause must meet the regulations of the Ho Chi Minh City People's Council on priority areas; criteria, conditions and content of innovative start-up activities.
Exemption from corporate income tax and personal income tax in Ho Chi Minh City
NGOC THANG
The tax exemption period is 5 years from the time the enterprise generates corporate income tax payable from innovative start-up activities arising in Ho Chi Minh City during the effective period of Resolution 98. After Resolution 98 expires, if the tax exemption period prescribed in this clause has not ended, the enterprise shall continue to implement it until the end of the tax exemption period. In case the enterprise is in the exemption period or is eligible for corporate income tax exemption under conditions other than those prescribed in this Decree, it may choose to enjoy tax exemption under other tax exemption conditions or tax exemption under the provisions of this Decree for the remaining period.
During the effective period of Resolution 98, organizations with income from transferring capital contributions and capital contribution rights to innovative start-up enterprises in Ho Chi Minh City are exempt from corporate income tax on this income. Innovative start-up enterprises in the city specified in this clause must meet the regulations of the People's Council on priority areas; criteria, conditions, and content of innovative start-up activities.
Income from capital transfer and capital contribution rights specified in this clause is income from transferring part or all of the capital and capital contribution rights to innovative start-up enterprises in Ho Chi Minh City (including cases of selling enterprises), except for income from transferring stocks, bonds, fund certificates and other types of securities as prescribed. In case of selling the entire single-member limited liability company owned by an organization in the form of capital transfer associated with real estate, corporate income tax shall be declared and paid according to real estate transfer activities.
In case an enterprise conducts many production and business activities, the enterprise shall determine and account for income from tax-exempt activities in accordance with the provisions of the law on corporate income tax. The enterprise shall declare and pay taxes in accordance with the provisions of the law on tax administration.
Regarding personal income tax (PIT) exemption, during the effective period of Resolution 98, individuals with income from transferring capital contributions and capital contribution rights to innovative start-up enterprises in the city are exempted from PIT on this income.
Income from capital transfer and capital contribution rights specified in this clause is income from transferring part or all of the capital and capital contribution rights to innovative start-up enterprises in Ho Chi Minh City (including cases of selling enterprises), except for income from transferring stocks, bonds, fund certificates and other types of securities as prescribed. In case of selling the entire enterprise owned by an individual in the form of capital transfer associated with real estate, then declare and pay personal income tax according to real estate transfer activities.
Determination of income from capital transfer, capital contribution rights and declaration to tax authorities shall comply with the law on personal income tax and the law on tax administration./.
According to thanhnien.vn
Source: https://thanhnien.vn/mien-thue-thu-nhap-doanh-nghiep-ca-nhan-tai-tphcm-185240204132028636.htm
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