Newsflash on Decree 57/2021/ND-CP

Decree 57/2021/ND-CP supplementing Decree No. 218/2013/ND-CP on CIT incentives for projects manufacturing supporting industry products implemented before 1 January 2015

The Government just issued Decree No. 57/2021/ND-CP (“Decree 57”) dated 4 June 2021 to supplement Decree No. 218/2013/ND-CP on CIT incentives for projects manufacturing Supporting Industry products. Preferential policies related to the Supporting Industry have been issued and took effect from 1 January 2015. However, one of the difficulties in applying preferential policies in this sector is that tax incentives, especially CIT incentives, are not applicable to Supporting Industry enterprises which has been in operation before 1 January 2015. The issuance of Decree 57 is considered as an effective solution to improve the incentive system for Vietnam’s Supporting Industry, promoting business and production development, especially at the moment when domestic enterprises are still struggling to cope with public health related issues as well as challenging macroeconomic situation. Decree 57 takes effect from 4 June 2021. In this newsletter, Grant Thornton Vietnam would like to update the enterprises on important contents of Decree 57 regarding the application of CIT incentives in the field of Supporting Industries. View the full newsflash