VietnameseOfficial Dispatch No. 1624/TCT-CS dated May 16, 2012 of the General Department of Tax on tax policy
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Official Dispatch No. 1624/TCT-CS dated May 16, 2012 of the General Department of Tax on tax policy
| Issuing body: | General Department of Taxation | Effective date: | Known Please log in to a subscriber account to use this function. Don’t have an account? Register here |
| Official number: | 1624/TCT-CS | Signer: | Cao Anh Tuan |
| Type: | Official Dispatch | Expiry date: | Updating |
| Issuing date: | 16/05/2012 | Effect status: | Known Please log in to a subscriber account to use this function. Don’t have an account? Register here |
| Fields: | Tax - Fee - Charge |
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Effect status: Known
MINISTRY OF FINANCE GENERAL DEPARTMENT OF TAX ------- No.: 1624/TCT-CS Ref: on tax policy | SOCIALIST REPUBLIC OF VIETNAM Independence – Freedom - Happiness --------------- Hanoi, May 16, 2012 |
To: Department of Tax of Ba Ria – Vung Tau province
On answering the Official Dispatch No. 1224/CT-TTHT dated 23/02/2012 of the Department of Tax of Ba Ria – Vung Tau province for problems on cutting 30% enterprise income tax in 2011, the General Department of Tax has opinion as follows:
At the point e, Clause 1, Article 1, the Circular 154/2011/TT-BTC dated 11/11/2011 of the Ministry of Finance:
“e/ Small- or medium-sized enterprises’ income tax amounts to be reduced under this Clause exclude tax amounts on revenues from lottery, real estate, securities, finance, banking and insurance business activities, production and provision of excise tax-liable goods and services, and mineral exploitation and processing.”
The Greif Vietnam Limited Company produces steel casks and processes machines which satisfy all conditions to small- and medium-enterprises, it generates profits for exchange rate differences from production and business activities (producing steel casks and processing machines) and re-evaluating payable liabilities origin from foreign currencies at the end fiscal year in 2011, this revenue is subjected to e 30% reduction of payable enterprise income tax amounts in 2011 prescribed at the Circular No. 154/2011/TT-BTC basing on above regulation.
The General Department of Tax answers the Department of Tax of Ba Ria – Vung Tau province for implementation.
FOR GENERAL DIRECTORATE DEPUTY GENERAL DIRECTORATE Cao Anh Tuan |
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