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blue-check Instructions for use of enterprises’ science and technology development funds

Circular No. 05/2022/TT-BKHCN dated May 31st, 2022 of the Ministry of Science and Technology on instructions for use of enterprises’ science and technology development funds
Posted: 2/6/2022 9:47:34 AM | Latest updated: 15/6/2022 10:12:20 AM (GMT+7) | LuatVietnam: 5465 | Vietlaw: 564
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This Circular provides instructions on how to use enterprises’ science and technology development funds made according to Decree No. 95/2014/ND-CPstatus2 , including expenditures on these activities:

- Performing science and technology missions;

- Equipping enterprises with physical infrastructure and technical utilities for their science and technology activities: Establish research and development organizations, centers for analysis, testing, experimentation, inspection, calibration or trial of products; enterprises’ information infrastructure, databases and statistics on science and technology activities, etc.

- Purchasing Technological know-how, technical designs, technical solutions, etc.

- Purchasing machinery and equipment involved in the technology innovation mission;

- Payment of wages, salaries and costs of hiring of professionals;

- Expenditures on science and technology personnel training activities;

- Expenditures on initiative-related activities;

- Expenditures on science and technology cooperation activities;

- Expenditures on assessment, testing, inspection, assessment, promotion and commercialization of new products and technologies

- Expenditures on implementation of science and technology transfer missions

- Expenditures on Fund management activities: Paying wages, paying for offices, paying for procurement and repair of stationery, office supplies and property.

In addition, this Circular also regulates enterprises’ responsibilities to notify local specialized authorities in charge of science and technology of establishment of Funds; formulate Fund’s expenditure regulations; etc.

This Circular comes into force from June 1st, 2022 and applies during the period of utilization of the corporate-level Science and Technology Development Funds from the corporate income tax computation period in 2022.

To replace Articles 2, 3, 5, 6, 7, 8, 9, 10, 11 and 15 and Form No. 01 of Appendix enclosed with Joint Circular No. 12/2016/TTLT-BKHCN-BTCstatus2 dated June 28th, 2016.

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Effective Date 1-Jun-2022
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Published Vietlaw's Newsletter No. 564
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