Circular No. 105/2012/TT-BTC dated June 25, 2012 of the Ministry of Finance amending and supplementing Circular No. 15/2011/TT-BTC dated February 09, 2011of the Ministry of Finance guiding the establishment, organization, operation, management and use of funds for scientific and technological development of enterprises

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Issuing body:	Ministry of Finance	Effective date:	Known Please log in to a subscriber account to use this function. Don’t have an account? Register here
Official number:	105/2012/TT-BTC	Signer:	Vu Thi Mai
Type:	Circular	Expiry date:	Known Please log in to a subscriber account to use this function. Don’t have an account? Register here
Issuing date:	25/06/2012	Effect status:	Known Please log in to a subscriber account to use this function. Don’t have an account? Register here
Fields:	Enterprise , Science - Technology

SUMMARY

REGULATING THE USE OF SCIENTIFIC AND TECHNOLOGICAL DEVELOPMENT FUND

On June 25, 2012, the Ministry of Finance issued the Circular No. 105/2012/TT-BTC amending and supplementing the Circular No. 15/2011/TT-BTC dated February 09, 2011 of the Ministry of Finance guiding the establishment, organization, operation, management and use of scientific and technological development Fund of the enterprises.

Under this Circular, the fund is used to develop science and technology of enterprises in Vietnam and do scientific and technological research for businesses' Vietnamese-based scientific and technological operations. Specifically, the fund is used for equipping facilities for businesses’ scientific and technological operations (construction of laboratories, trial facilities, machinery and equipment for research and development); buying machines, equipment to renovate the direct use technology in production; paying the cost for training human resources in science and technology field as regulated by Law.

Such a science and technology development fund is only used for businesses' Vietnamese-based scientific and technological operations. Businesses must not use the fund for non-scientific/technological purposes in Vietnam or for scientific and technological projects that have been financed by a different source of capital.

Annually, enterprises must write a report on using the fund and listing the data on the amount of money set to send to the tax office where enterprises register to pay the enterprise income tax.
The deadline for submission of the report is at the same time with the time to submit reports on the settlement of enterprise income tax.

This Circular shall take effect on August 13, 2012.

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MINISTRY OF FINANCE -------	THE SOCIALIST REPUBLIC OF VIETNAM Independence– Freedom – Happiness ---------------
No.: 105/2012/TT-BTC	Ha Noi, June 25, 2012

CIRCULAR

AMENDING AND SUPPLEMENTING CIRCULAR NO. 15/2011/TT-BTC DATED FEBRUARY 09, 2011OF THE MINISTRY OF FINANCE GUIDING THE ESTABLISHMENT, ORGANIZATION, OPERATION, MANAGEMENT AND USE OF FUNDS FOR SCIENTIFIC AND TECHNOLOGICAL DEVELOPMENT OF ENTERPRISES

Pursuant to the Law on Enterprise Income Tax No. 14/2008/QH12 dated June 03, 2008 and the guiding documents;

Pursuant to the Article 45 of the Law on technology transfer No. 80/2006/QH11 dated November 29, 2006 and guiding documents;

Pursuant to Law on digital technology science No. 21/2000/QH10 dated June 28, 2000; 06/28/2000;

Pursuant to the Enterprise Law No. 60/2005/QH11 dated November 29, 2005;

Pursuant to Decree No. 118/2008/ND-CP dated November 27, 2008 of the Government regulating the functions, duties, powers and organizational structure of the Ministry of Finance;

The Ministry of Finance make guidance on amendment and supplementation of the Circular No. 15/2011/TT-BTC dated February 09, 2011 of the Ministry of Finance guiding the establishment, organization, operation, management and use of scientific and technological development Fund of the enterprises as follows:

Article 1. To amend and supplement Clause 2, Article 2 of Circular No. 15/2011/TT-BTC as follows:

“2. Competence of establishment

Based on needs and financial capacity for the investment in scientific and technological operation of the enterprises, the highest competent level of the enterprises will decide on the establishment and regulate the tasks, powers and organizational machine of the Fund. The highest competent level of the enterprises includes:

a) The General Meeting of Shareholders (for joint stock companies);

b) The member Board or owners of companies (for limited liability companies, partnerships);

c) Owners of private enterprises (for private companies) or General Director, Director (for enterprises without board of directors) of the enterprise ".

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