Enterprises Producing Supporting Industrial Products Can Choose Higher Tax Incentives
- phanhoainamba
- Jun 7, 2024
- 1 min read
Legal Basis: Official Letter No. 2326/TCT-CS dated June 3, 2024, from the General Department of Taxation regarding corporate income tax policies.
According to Clause 12, Article 1 of Law No. 32/2013/QH13, if an enterprise is eligible for multiple tax incentives for the same income during the same period, it can choose to apply the most favorable tax incentive.
Applicable cases:
Enterprises with Investment Projects: Enterprises with investment projects that are currently benefiting from tax incentives under the conditions of new investment projects in industrial zones.
Supporting Industrial Products: Enterprises granted a Certificate of Incentives for Producing Supporting Industrial Products according to Circular No. 21/2016/TT-BTC.
Benefit:
Enterprises can opt to switch to tax incentives based on the conditions for producing supporting industrial products, which generally offer higher incentives, for the income generated from this project.
Note:
Income arising from other products of the project that do not support industrial products will not continue to enjoy tax incentives under the conditions of new investment projects in industrial parks.
Contact W&A for more details!
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