Uni 28-07-2014 - Guidance on new contents of Circular No. 78/2014/TT-BTC of CIT

Official letter No. 2785/TCT-CS in guidance of new contents of Circular No. 78/2014/TT-BTC of CIT including 18 items:

1. CIT calculation method
2. Determining revenue to calculate taxable income
3. Non-deductible and deductible expenses
4. Time incentives of CIT exemption, reduction.

              .…

Some notes for extension investment project as follows:

• Enterprises having extension investment project belong to industry, area entitled to CIT incentives if meeting one of three conditions:

• Entitled to CIT incentives with the operating projects for the remaining time (if any)
• Applied to CIT exemption, reduction time for the additional income of extension investment project equaling to due to CIT exemption, reduction time  applied to newly-invested project in the same area, industry entitled to CIT incentives.

• Extension investment project deployed before 31 Dec 2008 and had run business operation before 2009 and meeting CIT incentives conditions in accordance with Decree No. 218/2013/NĐ-CP will be opted for CIT incentives being enjoyed or CIT incentives of Decree No. 218/2013/NĐ-CP for extension investment within the remaining time đối với đầu tư mở rộng cho thời gian còn lại.
• Extension investment project before 01 Jan 2014 but completed and used from 01 Jan 2014 if belonging to entitled the industry, area will enjoy CIT incentives the additional income of extension investment project.