Oficial letter No.9877/BTC-TCT in guidance of CIT for extention invesment project
According to the official letter No. 9877/BTC-TCT:
In principle, the investment preference is based on regulations of Law at the time of granting, amending the investment certificate. However, if the extension investment project is not implemented as the progress of the amendment investment certificate, enterprises will not be applied to CIT preference under Law at the time of being granted the amendment investment certificate.
According to the amendment investment certificate, the extension investment project is implemented from 2004 to 2006, but actually until October 2010 the project is completed. The CIT preference for the extension investment project must be complied with current regulations as follows:
Enterprises have the extension investment project until 31 December 2008, with construction in progress, in 2009 still in progress and completed and conduct production and business from 2010, the enterprise is not entitled to CIT preference for the added income from the extension project.
