CRITERIA FOR IDENTIFYING HI-TECH ENTERPRISES
On March 16, 2021, the Prime Minister issues the Decision No. 10/2021/QD-TTg prescribing criteria for identifying hi-tech enterprises.
Accordingly, hi-tech enterprises must satisfy the criteria prescribed at Points a and b, Clause 1, Article 18 of the Law on High Technologies No. 21/2008/QH12 which is amended and supplemented by Article 75 of the Investment Law No. 67/2014/QH13 and Clause 3, Article 76 of the Law on Investment No. 61/2020/QH14, and the following 03 specific criteria:
Firstly, the revenue from hi-tech products must account for at least 70% of the enterprise’s total annual net revenue;
Secondly, proportion of the enterprise’s total expenses for research and development activities per total net revenue value minus input value as follows: For enterprises with a total capital of VND 6,000 billion or more and 300 employees or more: at least 0.5%, etc.;
Thirdly, portion of the number of research and development staff members holding a degree of associate or higher of the enterprise per the enterprise’s total number of workers as follows: For enterprises with a total capital of VND 6,000 billion or more and 300 employees or more: at least 1%, etc.
This Decision takes effect on April 30, 2021.
