GUIDANCE ON ENTERPRISE INCOME TAX FOR SOCIALIZATION ESTABLISHMENTS
On August 17, 2021, the Ministry of Finance issues the Circular No. 71/2021/TT-BTC on guiding the socialization establishment’s enterprise income tax that has not been retrospectively collected under the Government’s Resolution No. 63/NQ-CP dated August 25, 2014.
Accordingly, socialization establishments established before July 22, 2016 and earning income from socialization activities shall be responsible for performing enterprise income tax obligations as follows
Firstly, socialization establishments shall be entitled to enterprise income tax incentives as prescribed by law and the Prime Minister’s decision in each period (if they satisfy conditions specified in the list attached to the Decisions No. 1466/QD-TTg, 693/QD-TTg, and 1470/QD-TTg).
Secondly, socialization establishments that do not satisfy the conditions under the Prime Minister’s Decisions shall additionally declare unpaid enterprise income tax amounts (if any), calculate by themselves payable enterprise income tax amounts, or tax authorities shall retrospectively collect enterprise income tax amounts under the Law on Tax Administration and its guiding documents until socialization establishments satisfy the conditions specified in the Prime Minister’s Decisions.
Thirdly, socialization establishments with arising enterprise income tax as prescribed shall not be sanctioned for violations of the tax laws and shall not be subject to late-payment interests on the amount of enterprise income tax that has not been temporarily retrospectively collected under Article 24 of the Ministry of Finance’s Circular No. 151/2014/TT-BTC dated October 10, 2014 until the effective date of this Circular.
This Circular takes effect on November 01, 2021.
