Specifically, the Ministry of Finance proposes to amend and supplement Point G, Clause 2, Article 20 of Decree No.218/2013/ND-CP in the direction: Enterprises have new investment projects, or expand production of supporting industrial products before January 1, 2015, if meeting the conditions specified in Law 71/2014/QH13 amending and supplementing some articles of the tax laws and being granted a certificate of production incentives for supporting industrial products by a competent agency, they will enjoy CIT incentives for the remaining time from the tax period in which this Decree comes into force. Meanwhile, if the project is granted a certificate of incentives for manufacturing supporting industrial products by a competent authority before the effective date of the decree, but not yet enjoyed CIT incentives, the remaining incentive period will be determined by the period of CIT incentives under the project conditions minus the number of years from the year the certificate of preference is issued to the year before the effective year of the Decree.
For projects that are granted certificates of incentives for production of supporting industrial products by competent authorities before the effective date of this Decree, or have been or are enjoying CIT incentives under other preferential conditions, they are entitled to choose to enjoy CIT incentives according to the conditions of projects producing supporting industrial products for the remaining time from the tax period when this Decree comes into effect.
For projects that have been granted certificates of incentives by competent agencies from the effective date of this Decree or are enjoying CIT incentives under other preferential conditions, they may be selected for CIT incentives according to the suing projects to manufacture supporting industrial products for the remaining time from the year they are granted preferential certificates. The remaining incentive period is determined by the CIT incentive period according to the project conditions, minus the CIT incentive period of the project already enjoyed under other conditions.
Huong Quynh (Vietnam taxation magazine)