VietlawOnline

blue-check Regarding EIT on undistributed incomes of an establishment engaging in socialization

Official letter No. 2212/TCT-CS dated June 21st, 2021 of the General Department of Taxation regarding tax policy applicable to undistributed incomes of an establishment engaging in socialization
Posted: 16/7/2021 8:25:17 AM | Latest updated: 13/8/2021 8:56:35 AM (GMT+7) | LuatVietnam: 5251 | Vietlaw: 521
VietlawOnline

According to point a clause 10 Article 8 of Circular No. 78/2014/TT-BTCstatus2 , incomes retained (undistributed incomes) for investment in development of an establishment engaging in socialization, including medical establishment, shall be exempt from enterprise income tax (EIT).

However, because now specialized laws on health do not have regulations in details on undistributed incomes of an establishment engaging in socialization, the General Department of Taxation does not have ground to consider granting EIT exemption.

In this case the General Department of Taxation assumes that the establishment should contact with specialized agency (the Ministry of Health) to ask for its opinions about determination of undistributed incomes before requesting tax authority to consider granting EIT exemption.

Ms Phuong Thao (VietlawOnline.com)
Please tag VietlawOnline.com when reposting this article

Related documents

Penalty document

Unknown

Information

Effective Date Unknown
ExpiredDate Unknown
Published Vietlaw's Newsletter No. 521

Files attachment

enflag pdficon CV2212_21062021TCT[VLO].pdf

Timeline

No data

Tax of Corporation Income

blue-check Incomes eligible for EIT exemption, reduction upon investing in favored fields
blue-check Regarding EIT incentives in case of changing location of project execution
blue-check Regarding choice of EIT incentives with regard to agricultural processing enterprises
blue-check EIT must not be allocated to branches that are enjoying incentives
blue-check Incomes derived outside favoured area shall not be entitled to EIT incentives
blue-check Some issues relating to declaration for deduction of EIT already paid outside Vietnam under an Agreement
blue-check Regarding EIT on undistributed incomes of an establishment engaging in socialization
blue-check Regarding EIT incentives upon moving location of executing project
blue-check “Other incomes” in 2020 shall be also entitled to a 30% reduction in EIT
blue-check Conditions for EIT exemption, reduction for science and technology enterprises
blue-check 2020’s calendar months which belong to 2019 fiscal year shall not be entitled to a 30% reduction in EIT
blue-check 2020’s tax period according to fiscal year other than the Gregorian calendar is still entitled to tax reduction
blue-check Guidelines on application of the policy on 30% reduction in EIT payable in 2020
blue-check Regarding a 30% reduction in EIT payable in 2020
blue-check [Merged] 2009 Law on Corporate Income Tax
blue-check EIT payable in 2020 shall be reduced 30%
blue-check Regarding EIT incentives for interests on terms deposits
blue-check Regarding EIT on post - tax profits from business cooperation
blue-check Regarding EIT incentives for agricultural enterprises applying high technologies
blue-check Regarding deduction of CIT paid outside Vietnam under Taxation Avoidance Agreements