red-check State enterprises are compulsory to set up science and technology development fund

Decree No. 95/2014/ND-CPstatus2 dated October 17, 2014 of the Government on investment in, and the financial mechanism applicable to, scientific and technological activities
Posted: 23/10/2014 1:20:11 PM | Latest updated: 14/2/2019 3:51:33 PM (GMT+7) | LuatVietnam: 3607 | Vietlaw: 200

This Decree details and guides the implementation of Articles 52, 53,54,58 and 63 of the Law on Science and Technology regarding investment in, and financial mechanism applicable to, scientific and technological activities, some necessary contents on state budget estimation and expenditures on scientific and technological activities, and state management of science and technology development funds.

According to Article 9 of this Decree, a state enterprise shall annually deduct between 3% and 10% of the income liable to enterprise income tax to set up its science and technology development fund.

Particularly, a non-state enterprise may make deductions for setting up its science and technology development fund at an appropriate level not exceeding 10% of the income liable to enterprise income tax.

This Decree takes effect from December 01, 2014 and annuls Decision No. 117/2005/QD-TTg dated May 27, 2005.

Amendement notes
Article 20 of this Decree shall be expired from March 20th, 2019. See the new regulations at Decree No. 13/2019/ND-CP dated February 1st, 2019.

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Effective Date 1-Dec-2014
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Published Vietlaw's Newsletter No. 200

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