1. Corporate Income Tax (“CIT”)
(i). CIT incentives for relocated enterprises
Circular 78/2014/TT-BTC dated 18 June 2014 of the Ministry of Finance (“Circular 78”) is silent on CIT incentives applicable in case an enterprise is relocated. According to the guidance of the Official Letter No. 5636/TCT-CS dated 17 December 2014, in case an enterprise currently enjoying CIT incentives is relocated, that enterprise will continue to enjoy CIT incentives for the remaining period if it continues to satisfy the CIT incentive conditions.
(ii). CIT incentives for other income of an enterprise enjoying CIT incentives on “location basis”
 
Under Official Letter No. 5711/TCT-CS dated 19 December 2014, if in 2014, where an enterprise is enjoying CIT incentives on “location basis” under the regulations applicable prior to 2014, other income (except for income from capital and project transfer; income from exploration and exploitation of oil and gas and natural resources; income from provision of services subject to Special Consumption Tax) of such enterprise will also enjoy CIT incentive in accordance with Point 4, Article 18, Circular 78.
(iii). Utilisation of loss from real estate transfer
Pursuant to the Official Letter No. 5805/TCT-CS dated 24 December 2014 of the General Department of Taxation (“GDT”), in case a company having the fiscal year from 1 July 2013 to 30 June 2014 has loss from real-estate transfer activity during this period:
— The loss from real estate transfer incurred from 1 July 2013 to 31 December 2013 is only allowed to offset against income from real estate transfer in 2014. The company is not allowed to offset this loss against the income from business activities (including other income under the regulations) incurred from 1 July 2013 to 31 December 2013; and
— The loss from real estate transfer incurred from 1 January 2014 to 30 June 2014 is allowed to offset against income from business activities (including other income under the regulations) incurred from 1 January 2014 to 30 June 2014.
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