Guiding investment incentives for industrial parks and economic zones

29/07/2019

The Ministry of Finance has just issued Circular 43/2019 / TT-BTC guiding Decree No. 82/2018 / NĐ-CP of the Government regulating the management of industrial parks and economic zones.

Circular 43 guides the provisions of Clause 4, Article 24 of the Government's Decree No. 82/2018 / NĐ-CP of May 22, 2018 on investment incentives for industrial parks and economic zones.

Accordingly, the costs of investment in construction, operation or rent of condominiums and social infrastructure works in service of workers working in industrial parks and economic zones of the project enterprises investing in industrial parks and economic zones are deductible when determining the taxable income of an enterprise as follows:

For the value of fixed assets: To be included in the value of works and depreciation deducted into deductible expenses when determining the income subject to enterprise income tax if meeting the conditions of fixed assets as prescribed of the Ministry of Finance regarding the management, use and depreciation of fixed assets.

For expenses (except for the above case): To be included in deductible expenses when determining income subject to enterprise income tax under the provisions of law on corporate income tax.

The circular stated that incentives for investment projects to build houses, cultural and sports facilities, social infrastructure works to serve workers in industrial parks and economic zones.

Investment projects on construction of houses, cultural and sports facilities, social infrastructure works in service of workers working in industrial parks or economic zones are eligible for incentives under the law on constructing social housing and related laws.

This Circular takes effect on August 26, 2019.

Source: chinhphu.vn

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