Conditions for tax incentives from socialization activities
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Socialization establishments are primarily in the fields of education, job training, health, culture, sports, environment.
According to the Ministry of Finance , implementing encouragement policies of establishments operating in the field of socialization, the Prime Minister issued Decision No. 1466/QD-TTg dated 10-10-2008 on the detailed list of type, criteria of scale and standards of establishments which perform socialization in the field of education and training, job training, health, culture, sports,and environment. The Prime Minister also issued Decision 693/QD-TTg dated on 6-5-2013 amending and adding some contents of the detailed list attached to Decision 1466.
Revenues collected from divestment mainly on social security expenditures VCN- Speaking to the reporters of Customs News, Mr. Dang Quyet Tien, the Deputy Director of the ... |
On 22-7-2016, the Prime Minister issued Decision No. 1470 /QD-TTg amending, adding the detailed list of forms, criteria, scale and standards of establishments who perform socialization in the field of education, job training, health, culture, sports attached to decision No 1466. Accordingly, the content not modified and supplemented in Decision 1470 still has effect.
The amendments took effect from the date of 22-7-2016. Based on the legal normative on taxes, the Ministry of Finance's guidelines, for establishments which perform socialization founded before decision 1470 took effect, if the conditions are not met (on the list of forms, criteria, scale, standards) on Decision 1466 and Decision 693 (old conditions) but satisfy the conditions in Decision 1470, the income from socialization operations will get preferential enterprise income Tax for the remaining period, from the date of 22-7-2016 (Decision 1470 took effect).
Establishments founded before 22-7-2016, if getting preferential enterprise income tax due to meet the conditions of the Decision 1466, and Decision 693 but do not meet the conditions of Decision 1470 then continue to receive tax incentives for income from operations for socialization under the old conditions.
For establishments founded from the date that Decision 1470 took effect and meeting the conditions of this decision, the income from socialization operations will get preferential enterprise income tax, since meeting this decision.
If the establishments do not meet the conditions of Decision 1470 then operating income from socialization will be declared for tax payment according to regulations. Socialization establishments that do not meet the conditions of all three decisions will not be entitled to tax incentives on income from Socialization activities and must be declared for tax payment according to regulations.
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