Thông tư 1034-HTĐT/TĐ năm 1992 hướng dẫn việc dùng lợi nhuận để tái đầu tư do Uỷ ban Nhà nước về Hợp tác và đầu tư ban hành

CIRCULAR

GUIDING THE WAY TO RE-INVEST BY EARNER PROFIT

For the implementation of Article 32 provided by the Law on Foreign Investment in Vietnam and Article 74 provided by the Decree No.28 of the Council of Ministers, the followings are some guide-lines issued by the State Committee on Cooperation and Investment on how to re-invest in Vietnam by the disposal of earned profit.

1. "Re-invest" is to spend the profit earned from investment activities in Vietnam to:

+ Increase (or contribute to increase) the legal or invested capital of a project that is on implementation.

+ Or to to a new project in Vietnam.

2. "Re-invest from 2 years up" means the profit spent to invested capital for at least 3 years.

3. A refund of the tax paid on the profit used for a reinvestment from 3 years up shall be made to taxpayer.

4. When the reinvestment is made with earned profit foreign investors must accomplish a file attached with "Application for getting refund of tax paid on reinvested profit" sent to the State Committee for Cooperation and Investment. This file is composed of:

a) Certificate (or receipt or a copy thereof certified by a public notary office) issued by tax office and clearly stated the amount of revenue tax that has been paid.

b) Declaration on the profit to be reinvested. If a new project is chosen for reinvestment, it must be a project that has been granted an investment...license by the State Committee for Cooperation and Investment of the earned profit is spent to increase (or contribute to increase) invested or legal capital

5. All benefits start at point 3 shall not be applicable to foreign partner whose legal capital dated in business license or investment license is still unpaid.

6. Within 15 days from the date when a duty file is admitted, decision will be made and informed by the State Committee for Cooperation and Investment to investors. If the reinvestment is admitted to be carried out, a decision will be made then by this committee confirming that investor is qualified to get back the revenue tax amount that has been paid on the reinvested profit.

7. After submitting the said certificate issued by the SCCI to tax office, a refund of revenues tax on the profit to be refund of revenues tax on the profit to be invested will be made by the tax office to foreign partner. A refund of revenue tax shall be complied with procedures stated in Circular No.55-TC/TCT/TT dated October the first 1991 of the Ministry of Finance.

8. All attempt of escaping from revenue tax by the way of the said reinvestment will be penalized under the laws.

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