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blue-check Regarding tax incentive upon acquisition of a factory

Official letter No. 3001/TCT-CS dated July 28th, 2020 of the General Department of Vietnam Customs regarding tax policy
Posted: 21/8/2020 1:19:37 PM | Latest updated: 9/9/2020 9:57:54 AM (GMT+7) | LuatVietnam: 5030 | Vietlaw: 474

VietlawOnline

According to point b Clause 5 Article 10 of Circular No. 96/2015/TT-BTCstatus2 , an investment project formed from ownership conversion with the inheritance of assets, business locations and business lines of the old enterprise shall not be eligible for incentives in terms of a new investment project.

According to this Official letter, in case a company receives the transfer of part of a factory (excluding machinery, equipment) but it still inherits assets, business locations and business lines of the old company, it fails to meet the conditions for tax incentives in terms of a new investment project.

Ms Phuong Thao (VietlawOnline.com)
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PublishedVietlaw's Newsletter No. 474
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