SCIENCE AND TECHNOLOGY ENTERPRISES: TO RECEIVE TAX REDUCTION, MUST ACHIEVE OVER 30% OF REVENUE

10:02:5002/06/2021
Circular No. 03/2021/TT-BTC clearly states that science and technology enterprises are entitled to tax exemption and corporate income tax reduction according to the provisions of Clause 1, Article 12 of Decree No. 13/2019/ND- The Government's CP dated February 1, 2019 must meet 4 conditions
Circular No. 03/2021/TT-BTC clearly states that science and technology enterprises are entitled to tax exemption and corporate income tax reduction according to the provisions of Clause 1, Article 12 of Decree No. 13/2019/ND- The Government's CP dated February 1, 2019 must meet 4 conditions, specifically:
1. Be granted a science and technology enterprise certificate by a competent state management agency.
2. Annual revenue from production and sales of products formed from scientific and technological results reaches a minimum rate of 30% of the total annual revenue of the enterprise.
3. Revenue generated from services that apply scientific and technological results in the field of information technology is revenue from new services, excluding services already on the market.
4. Science and technology enterprises must separately account income from production and sales of products formed from science and technology results in the period to enjoy corporate income tax incentives.
According to Circular No. 03/2021/TT-BTC, science and technology enterprises are entitled to corporate income tax exemption and reduction as prescribed in Clause 1, Article 12 of Decree No. 13/2019/ND-CP dated February 1, 2019 of the Government. Accordingly, tax exemption for 4 years and a 50% reduction in tax payable for the next 9 years.

 

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