Vietnam offers certain preferential treatment or incentives to foster the development of “supporting industries.” Specifically, with respect to certain products of supporting industries, the corporate income tax incentives include:
Existing regulations did not clearly define the conditions or procedures for determining which products were eligible for the tax incentives for supporting industries. According, Vietnam’s Ministry of Industry and Trade issued guidance—Circular 55/2015/TT-BTC (30 December 2015)—that establishes certain guiding procedures with respect to eligibility for the tax incentives. The guidance addresses:
The tax incentives for supporting industry products is an emerging field. Potentially eligible companies will want to review their product portfolios and match this against the information provided under the recent guidance.
The KPMG member firm has prepared two lists to help complete this analysis:
Read a January 2016 report [PDF 165 KB] prepared by the KPMG member firm in Vietnam: Procedures for applying corporate income tax incentives on certain products of supporting industries
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