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THE
STANDING COMMITTEE OF NATIONAL ASSEMBLY
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SOCIALIST
REPUBLIC OF VIET NAM
Independence - Freedom - Happiness
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No.
57/1997/L-CTN
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Hanoi,
May 10, 1997
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LAW
ON ENTERPRISE INCOME TAX
To contribute to boosting the
development of production and business and mobilizing part of the social
incomes for the State budget; to ensure equitable and reasonable contributions
by production, business and service organizations and individuals having
incomes;
Pursuant to the 1992 Constitution of the Socialist Republic of Vietnam;
This Law prescribes the enterprise income tax,
Chapter I
GENERAL PROVISIONS
Article 1.-
Subjects liable to the enterprise income tax
Organizations and individuals
involved in production and trading of goods and service provision (hereafter
referred to as business establishments) with incomes therefrom shall all have
to pay the enterprise income tax, except for subjects defined in Article 2 of
this Law.
Article 2.-
Subjects not liable to the enterprise income tax
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Article 3.-
Interpretation of terms:
In this Law, the following terms
shall be construed as follows:
1. "Production and trading
of goods and service organizations" are: State enterprises, limited
liability companies; stock companies; enterprises with foreign investment
capital and foreign parties to business cooperation contracts under the Law on
Foreign Investment in Vietnam; foreign companies and organizations doing
business in Vietnam but not regulated by the Law on Foreign Investment in
Vietnam; private enterprises; cooperatives; groups of cooperatives; economic
establishments of political organizations, socio-political organizations,
social organizations, socio-professional organizations and people�s armed forces units;
administrative and non-business agencies engaged in production and trading of
goods and services;
2. "Individuals engaged in
production and trading of goods and services" are: individual households
and business groups; family households and individuals engaged in agricultural
production; businessmen; independent practitioners; individuals having
properties for rent; foreign businessmen with incomes generated in Vietnam;
3. "Permanent bases of
foreign companies in Vietnam" are business establishments through which
the foreign companies conduct part of or all business activities that generate
incomes in Vietnam, including:
a/ Branches, executive offices,
factories, workshops, transport means, mines, oil or gas fields and other
places for exploitation of natural resources in Vietnam;
b/ Construction sites, projects
on construction, installation and/or assembly projects;
c/ Establishments providing
services, including consultancy services through their employees or other objects;
d/ Agents of foreign companies;
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- Competent to sign contracts on
behalf of foreign companies;
- Not competent to sign
contracts on behalf of foreign companies but regularly performing the delivery
of goods or provision of services in Vietnam.
In cases where an agreement on
the avoidance of double taxation which is signed by the Socialist Republic of
Vietnam and provides otherwise regarding the permanent bases, such agreement
shall apply.
Article 4.-
Obligations and responsibilities to implement the Law on Enterprise Income Tax
1. Business establishments are
obliged to pay tax fully and on schedule as prescribed by this Law.
2. Tax agencies shall, within
the ambit of their tasks and powers, have to comply with the provisions of this
Law.
3. State agencies, political
organizations, socio-political organizations, social organizations,
socio-professional organizations, people�s
armed forces units shall, within their respective functions, tasks and powers,
have to supervise the implementation and coordinate with the tax agencies in
implementing the Law on Enterprise Income Tax.
4. Vietnamese citizens shall
have to assist tax agencies and tax officials in the implementation of this
Law.
Chapter II
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Article 5.-
Bases for tax calculation
Taxable incomes and tax rates
are the bases for tax calculation.
Article 6.-
Taxable incomes
Taxable incomes include incomes from
production, business and service activities and other incomes, including those
generated by production, business and service activities abroad.
Article 7.-
Determination of taxable incomes
1. Taxable incomes from
production, business and service activities are the turnover minus the
reasonable costs related to the taxable incomes.
2. Other taxable incomes include
incomes from differences of the stock trading, the rights to property ownership
and use; interests from the transfer, lease or liquidation of properties,
deposits, capital lending, selling foreign currencies; the year-end balance of
reserves; the recovery of bad loans which have been written off from accounting
records; debits of which owners cannot be identified; incomes from business
activities of the previous years which have been omitted but later discovered,
and other incomes.
In cases where an agreement on
the avoidance of double taxation which the Socialist Republic of Vietnam has
signed provides otherwise for the method to determine taxable incomes for
permanent bases, such agreement shall apply.
Article 8.-
Turnover
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In cases where the turnover is
in a foreign currency, it must be converted into Vietnam Dong at the official
exchange rate announced by the State Bank of Vietnam at the time of the
collection of such foreign currency.
Article 9.- Costs
1. Reasonable costs to be
subtracted for the calculation of the taxable incomes include:
a/ Depreciation of fixed assets
used for production, business and service activities as prescribed by law;
b/ Cost of raw materials,
materials, fuel, energy, and goods actually used in production, business and
service activities, which is related to the taxable turnover and taxable
incomes in the period and calculated on the basis of a reasonable waste rate
and actual prices of delivery;
c/ Salaries, wages, half-time
meal allowances, salary and wage-related incomes under current regulations,
except for salaries and wages of the owners of private enterprises, owners of
production, business and service individual households and incomes of founding
members of companies who do not directly take part in running the production,
business and service activities;
d/ Cost of scientific and
technological research; innovation and modifications; allowances for education;
health care; training of laborers according to the regulations;
e/ Cost of services bought from
outside: electricity, water, telephone; repair of fixed assets; rents of fixed
assets; audit; property insurance; payments for the use of technical materials,
patents, licenses of technologies not belonging to fixed assets; technical
services;
f/ Payment for women laborers as
prescribed by law; spendings on labor protection; spendings on security of the
establishment; deductions for the payment of social insurance and medical
insurance under the liability of the laborer-employing business establishment;
trade union fund; deductions to set up the higher agency�s management fund according to regulations;
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h/ Deductions for reserves as
prescribed;
i/ Severance allowances for
laborers;
j/ Spending on the sale of goods
and services;
k/ Cost of advertisement,
marketing and trade promotion directly related to production, business and
service activities and other costs which must be kept below 7% of the total cost.
With regard to commercial activities, the total cost serving as basis for the
determination of the limit level of reasonable costs shall not include the
input prices of goods for sale;
l/ Taxes, fees, charges and land
rents to be paid, which are related to production, business and service
activities, shall be included in the cost;
m/ Cost of business management
allocated by foreign companies to their permanent bases in Vietnam as
prescribed by the Government.
2. The following expenditures
shall not be included in the reasonable costs:
a/ Advance deductions included
in the total cost but actually not spent;
b/ Expenditures without vouchers
or with invalid vouchers;
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d/ Expenditures covered by other
capital sources.
3. The reasonable costs
prescribed in Item 1 of this Article shall all be recorded in accounting books
in Vietnam Dong. In case of a cost in foreign currency, it must be converted into
Vietnam Dong at the official exchange rate announced by the State Bank of
Vietnam at the time when the cost is paid.
Article
10.- Tax rates
1. The enterprise income tax
rate applicable to domestic business establishments and foreign organizations
and individuals doing business in Vietnam not under the Law on Foreign
Investment in Vietnam shall be 32%.
Production, construction and
transport establishments that are paying turnover tax at the rate of 25%, now
pay enterprise income tax at the rate of 32% and, if facing difficulties, shall
enjoy a tax rate of 25% for three years from the date when this Law takes
effect; upon the expiry of this period, the 32% tax rate shall apply. The
Government shall determine which production, construction and transport establishments
may enjoy the tax rate of 25%.
Business establishments, which
earn high incomes thanks to their objective advantages, shall, beside paying
32% income tax, have to pay an additional income tax equivalent to 25% of the
exceeding incomes brought about by their objective advantages. The Government
shall prescribe the method to determine such excess amount of incomes.
With regard to new investment
projects in the fields, branches and trades and territorial areas where
investment is encouraged, the tax rates of 25%, 20% and 15% shall apply in
accordance with the provisions of the Government.
2. The enterprise income tax
rate applicable to foreign invested enterprises and foreign parties to business
cooperation contracts shall comply with the tax rate provided for in Article 38
of the Law on Foreign Investment in Vietnam.
When transferring their incomes
abroad, foreign investors shall have to pay tax for the transferred incomes at
the tax rate provided for in Article 43 of the Law on Foreign Investment in
Vietnam.
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3. The enterprise income tax
rate applicable to domestic and foreign organizations and individuals
conducting oil and gas prospection, exploration and exploitation shall be 50%;
a tax rate of from 32% to 50% may apply to the exploitation of other precious and
rare natural resources, depending on each project and each business
establishment.
The Government shall give more
specifications to this Article.
Chapter
III
TAX DECLARATION, PAYMENT
AND SETTLEMENT
Article
11.- Responsibilities of business establishments
A business establishment shall
have the responsibilities:
1. To strictly follow the
regulations on accounting, invoices and vouchers as prescribed by law;
2. To fully declare its
turnover, costs and incomes under the regulations of the Ministry of Finance;
3. To pay fully and on schedule
tax and fines to the State budget under the notice of the tax agency;
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Article
12.- Tax declaration
1. Every year, a business
establishment shall base itself on the production, business and service results
of the previous year and the projection for the subsequent year to make
declaration of its turnover, costs and taxable incomes according to the form
set by the tax agency and submit it to the tax agency that directly manages it
on 25 January at the latest. After receiving the declaration, the tax agency
shall examine it and determine the amount of tax to be paid temporarily for the
whole year every quarter and inform the business establishment thereof; in case
of a big change in the production, business or service situation during the
year, the business establishment shall have to report to the managing tax agency
for readjustment of the tax amount to be temporarily paid every quarter.
2. With regard to a business
establishment not subject to the regulations on accounting, invoices and
vouchers, the tax amount to be paid monthly shall be determined on the basis of
the turnover quotas and the taxable income rate set for each branch and trade
by the competent tax agency.
Article
13.- Payment of tax
1. Each quarter a business
establishment shall temporarily pay the tax amount fully and on schedule to the
State budget under the tax payment notice of the tax agency. The deadline for
the quarterly tax payment stated in the notice must not be later than the last
day of the quarter.
2. The business establishment
defined in Item 2 of Article 12 shall have to pay tax to the State budget every
month at the notice of the tax agency. The deadline for the monthly tax payment
stated in the notice must not be later than the 25th day of the following
month.
3. A business establishment
engaged in consignment trade shall have to declare and pay tax for each
consignment to the tax agency of the locality where the goods are purchased
before transporting such goods.
4. For foreign organizations
and/or individuals doing business without permanent bases in Vietnam but having
incomes generated in Vietnam, the organizations and/or individuals that pay
such incomes shall have to deduct the tax amount at the rate set by the
Ministry of Finance on the total income payment and remit to the State budget
at the time of transferring the money paid to the foreign organizations and/or
individuals.
Article
14.- Settlement of tax
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a/ Turnover;
b/ Reasonable costs;
c/ Taxable incomes;
d/ The amount of income tax to
be paid;
e/ The amount of income tax
already temporarily paid in the year;
f/ The amount of income tax
already paid abroad for incomes generated from overseas;
g/ The amount of income tax not
yet paid or paid in excess.
2. The year of tax settlement is
the solar year. In cases where a business establishment is allowed to apply a
fiscal year other than the solar year, the tax settlement shall be made
according to that fiscal year. Within 60 days from the end of a solar year or a
fiscal year, the business establishment shall have to submit the tax settlement
statement to the tax agency and fully pay the tax arrears to the State budget
within 10 days after submitting the statement; the amount of tax paid in excess
shall be subtracted from the amount of tax to be paid in the subsequent period.
In case of a merger, almagation,
division, splitting, dissolution or bankruptcy, the business establishment
shall have to make the tax settlement and submit it to the tax agency within 45
days after the issue of decision on the merger, consolidation, division,
splitting, dissolution or bankruptcy.
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Article
15.- Tasks, powers and responsibilities of tax agencies:
A tax agency shall have the
following tasks, powers and responsibilities:
1. To guide business
establishments in making the tax declaration and payment in accordance with the
provisions of this Law;
2. To notify the business
establishment of the amount of tax to be paid and the deadline for tax payment
as prescribed; Past the tax payment deadline stated in the notice if the
business establishment fails to pay tax, another notice of the tax amount and
the fine on the tax payment delay shall be issued as prescribed in Item 2,
Article 24 of this Law; if the business establishment still fails to pay the
full amount of tax and fine already notified, measures defined in Item 4,
Article 24 of this Law shall be applied to ensure the full collection of the
tax and fine amount; in cases where measures have been taken yet the business
establishment still fails to pay the full amount of tax and fine, the dossier
shall be handed over to the competent State agency for handling according to
law;
3. To inspect and examine the
tax declaration, payment and settlement by the business establishment, ensuring
their compliance with the provisions of law. In cases where selling and buying
prices, business costs and other factors are found unreasonable, the tax agency
shall have the right to reset them so as to ensure an accurate and full
collection of the enterprise income tax;
4. To handle administrative tax
violations and settle tax complaints;
5. To request the business
establishment to provide accounting books, invoices, vouchers and other
documents related to tax calculation and payment; to request credit
organizations, banks and concerned organizations and/or individuals to provide
relevant documents on the calculation and payment of tax;
6. To keep and use data and
documents provided by the business establishment and other objects as
prescribed.
Article
16.- Right to determine taxable incomes
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a/ Fails to observe or
improperly observe the regulations on accounting, invoices and vouchers;
b/ Fails to make declaration or
improperly makes declaration of bases for tax calculation or fails to prove the
bases stated in its declaration at the request of the tax agency;
c/ Refuses to produce accounting
books, invoices, vouchers and other necessary documents related to the
calculation of the enterprise income tax;
d/ Is found doing business
without business registration.
2. The tax agency shall base
itself on the examination materials regarding the business establishments
activities or on the taxable incomes of another business establishment of the
same business line, on the same business scale to determine the taxable income.
If the business establishment
disagrees with the determined taxable income, it shall have the right to lodge
complaint to the immediate higher-level tax agency; pending a solution, the
business establishment shall still have to pay the determined tax amount.
Chapter IV
ENTERPRISE INCOME TAX
EXEMPTION AND REDUCTION
Article
17.- Tax exemption and reduction for newly established business
establishments
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a/ A newly founded production establishment
shall be exempt from tax for the first two years after it has a taxable income
and shall enjoy a 50% income tax reduction for the two subsequent years; as for
newly established production establishments in mountainous areas, offshore
islands and other regions facing difficulties, the tax reduction duration shall
last for another two years;
b/ Newly founded establishments
under investment privilege projects shall enjoy tax exemption and reduction as
follows:
- A newly founded production
establishment shall be exempt from tax for the first two years after it has a
taxable income and shall enjoy a 50% income tax reduction for a maximum of 4
subsequent years; as for investment in mountainous areas, offshore islands and
regions with difficulties, the duration of income tax exemption shall be
prolonged for one or two more years and the 50% income tax reduction shall be
prolonged for 1 to 5 more years;
- A newly founded good trading
or service establishment shall enjoy a 50% income tax reduction for the first
one or two years after it has a taxable income; if it invests in mountainous
areas, offshore islands and other regions with difficulties, the concerned
establishment shall enjoy an income tax exemption for the first one or two
years after it has a taxable income and a 50% income tax reduction for a
maximum of 5 subsequent years.
2. For foreign invested
enterprises and foreign parties to business cooperation contracts:
a/ Depending on the fields and
territorial areas of investment prescribed in the Law on Foreign Investment in
Vietnam, foreign invested enterprises and foreign parties to business
cooperation contracts may be exempt from income tax for 2 years at most after
they have taxable incomes and shall be entitled to a 50% income tax reduction for
at most 2 subsequent years;
b/ In cases where a foreign
invested enterprise or a foreign party to a business cooperation contract
implement an investment project with numerous criteria for investment
encouragement, it shall be exempt from income tax for 4 years at most after it
has a taxable income and shall be entitled to a 50% income tax reduction for 4
subsequent years at most;
c/ In special cases of
investment promotion, the duration of income tax exemption shall not exceed 8
years.
The Government shall stipulate
in details the tax exemption and reduction as prescribed in this Article.
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A production establishment that
invests in building new production lines, expanding its production scale,
renovating technology, improving the ecology and raising production capacity
shall be exempt from enterprise income tax on its additional incomes of the
first year and entitled to a 50% reduction of tax on the additional income
brought about by the new investment for two subsequent years.
Article
19.- Reimbursement of tax on the income used for re-investment by foreign
invested enterprises and foreign parties to business cooperation contracts
A foreign invested enterprise or
a foreign party to a business cooperation contract that uses its distributed
incomes for re-investment in projects with investment promotion shall be repaid
part or whole of the tax amount already paid on the re-invested incomes. The
Government shall specify the tax reimbursement rates, depending on the field,
territorial area, form and duration of re-investment.
Article 20.-
Tax exemption for business establishments moving to mountainous areas, islands
and other regions with difficulties
Business establishments moving
to mountainous areas, islands and other regions with difficulties shall be
exempt from enterprise income tax for the first three years after they have
taxable incomes.
Article
21.- Tax exemption and reduction in other cases
1. The following incomes of
domestic business establishments shall be exempt from enterprise income tax:
a/ Income from the performance
of scientific research contracts;
b/ Income from the performance
of technical service contracts directly in service of agriculture;
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d/ Income from job training
specifically for handicapped persons, people of ethnic minorities, children
meeting with exceptional difficulties, victims of social evils;
e/ Production, business and
service individual households with low incomes as prescribed by the Government.
2. Foreign investors shall be
entitled to enterprise income tax exemption and reduction, as follows:
a/ Overseas Vietnamese investing
into the country under the Law on Foreign Investment in Vietnam shall enjoy a
20% income tax reduction, compared with other projects of the same type, except
for cases where they are eligible for an income tax rate of 10%; and a tax rate
of 5% for the transfer of their incomes abroad;
b/ Patents, technical know-how,
technological processes, technical services used as contributions to the
prescribed capital shall be exempt from income tax;
c/ Income tax exemption or
reduction shall also apply to income from the transfer of capital contributed by
foreign investors to Vietnamese enterprises under the regulations of the
Government.
3. Domestic business
establishments and foreign invested enterprises engaged in production,
construction and transport activities that involve many women laborers under
the regulation of the Government shall enjoy income tax reduction.
Article
22.- Transfer of losses
Domestic business establishments
and joint-venture enterprises, if after tax settlement with the tax agency,
still suffer from losses shall be entitled to transfer such losses to the
following year, which shall be deducted from the taxable incomes. The duration
of the transfer of losses shall not exceed 5 years.
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1. The tax exemption or
reduction prescribed in Articles 17, 18, 19, 20 and 21 of this Law shall apply
only to business establishments which have strictly complied with the
regulations on accounting and paid tax in accordance with their declarations.
2. The Government shall
determine the competence to decide and procedures for tax exemption and
reduction as prescribed in Articles 17, 18, 19, 20 and 21 of this Law.
Chapter V
HANDLING OF VIOLATIONS
AND REWARD
Article
24.- Handling tax violations committed by tax payers
Tax payers that violate the Law
on Enterprise Income Tax shall be handled as follows:
1. A failure to abide by the
regulations on accounting, invoices, vouchers, declaration, payment and
settlement of tax as prescribed in Articles 11, 12, 13 and 14 of this Law
shall, depending on the nature and seriousness of the violation, be subject to
administrative sanction;
2. If they defer delays the
payment of tax or fine, or is late as compared with the deadline of the
handling decision, they shall have to pay, in addition to the full amount of
tax or fine, a 0.1% of the amount of deferred payment for each day of the
delay;
3. If they falsely declare or
evade tax, they shall, besides having to fully pay the tax amount as prescribed
by this law, be subject to a fine from one to five times the amount of the
fraud or evasion, depending on the nature and seriousness of the violation;
evading tax in big amount, repeating already administratively sanctioned
violations or committing other serious violations shall be subject to
examination for penal liability as prescribed by law;
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a/ Making deductions from money
deposited by the business establishment at a bank, treasury or credit
organization to pay the tax or fine.
The concerned bank, treasury or
credit organization shall have to make deductions from the deposit account of
the business establishment to pay the tax or fine to the State budget under a
tax-handling decision issued by the tax agency or the competent agency before
collecting debts;
b/ Retaining goods, material
evidences to ensure the full collection of the tax or fine;
c/ Making inventory of assets as
prescribed by law to ensure the full collection of the tax or fine arrears.
Article 25.-
Competence of the tax agencies in handling tax violations
1. The Heads of the tax agencies
directly managing the tax collection shall have the right to handle violations
by tax payers as prescribed in Items 1, 2 and 3, Article 24 of this Law.
2. The Directors of the tax
departments, the Heads of the tax sub-departments directly managing the tax
collection shall be entitled to apply measures prescribed in Item 4, Article 24
of this Law and, with regard to the violations of the provisions of Item 3,
Article 24 of this Law, submit the dossiers to the competent agencies for
handling in accordance with the provisions of law.
Article
26.- Handling violations committed by tax officials and other individuals
1. Tax officials and other individuals
who abuse their positions and powers to illegally seize and misappropriate tax
money or fines shall have to return to the State the full amount of tax money
or fines illegally used and misappropriated, and shall, depending on the nature
and seriousness of their violations, be disciplined or examined for penal
liability under the provisions of law.
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3. Tax officials and other
individuals who abuse their positions and powers to act in complicity with or
cover violators of the Law on Enterprise Income Tax or who commit other
violations of the provisions of this Law shall, depending on the nature and
seriousness of their violations, be disciplined or examined for penal liability
as prescribed by law.
4. Anyone who obstructs or
incites others to obstruct the enforcement of the Law on Enterprise Income Tax
shall, depending on the nature and seriousness of his/her violation, be
sanctioned administratively or examined for penal liability as prescribed by
law.
Article
27.- Rewards:
Tax agencies and tax officials
that fulfill well their assigned tasks; organizations and individuals that make
achievements in the observance of the Law on Enterprise Income Tax; business establishments
that well perform the tax payment obligations shall be rewarded.
The Government shall stipulate
the reward in detail.
Chapter VI
COMPLAINTS AND STATUTE
OF LIMITATIONS
Article
28.- Rights and responsibilities of tax payers in making tax complaints.
1. Tax payers shall have the
right to complain about tax officers and tax agencies that fail to comply with
the Law on Enterprise Income Tax.
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Pending a solution, the tax
payer shall still have to abide by the notice or the decision of the tax
agency.
2. In cases where the
complainant disagrees with the decision of the agency settling his/her
complaint or upon the expiry of the time-limit prescribed in Article 29 of this
Law, the complaint has not been settled, he/she shall be entitled to lodge the
complaint to the immediate higher-level tax agency or initiate a lawsuit at the
Court prescribed by law.
Article
29.- Responsibilities and powers of tax agencies in settling tax complaints
1. A tax agency must consider
and settle a tax complaint within 15 days after receiving it; with regard to
complicated cases, such time-limit may be prolonged but must not exceed 30
days. If the case does not fall under its competence, the concerned tax agency
shall have to forward the tax dossier or report it to the competent agency for
settlement and notify the complainant thereof within 10 days after receiving
the complaint.
2. The tax agency receiving the
complaint shall have the right to request the complainant to supply dossiers
and documents related to the complaint; if the complainant refuses to provide
the requested dossiers and documents, the tax agency shall be entitled to
refuse the consideration and settlement of the complaint.
3. The tax agency shall have to
reimburse the tax money or fines that have been collected improperly to the
business establishment within 15 days after receiving a handling decision from
the higher-level tax agency or the competent agency as prescribed by law.
4. Upon the detection of or
conclusion on false tax declaration, tax evasion or tax-related errors, the tax
agency shall have to collect the tax or fine arrears or reimburse the tax money
paid in excess within the five latest years from the date of detection of the
false tax declaration, evasion or errors. In cases where the business
establishment fails to make tax registration, declaration and payment, the duration
for the collection of the tax or fine arrears shall be counted from the date
when the business establishment starts its operation.
5. The Head of the higher-level
tax agency shall have to settle tax-related complaints from the tax payers
against the lower-level tax agency.
The decision of the Ministry of
Finance on the settlement of a tax complaint shall be final.
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ORGANIZATION OF
IMPLEMENTATION
Article
30.- The Government shall direct the organization of the implementation of
the Law on Enterprise Income Tax throughout the country.
Article
31.- The Minister of Finance shall have to organize the enforcement and the
inspection of the implementation of the Law on Enterprise Income Tax throughout
the country.
Article
32.- The Peoples Committees of all levels shall, within the ambit of their
tasks and powers, direct and inspect the implementation of Law on Enterprise
Income Tax in their localities.
Chapter
VIII
IMPLEMENTATION PROVISIONS
Article
33.- The Law on Enterprise Income Tax takes effect from January 1st, 1999.
To annul the Law on Profit Tax,
the Law on the Amendments and Supplements to a Number of Articles of the Law on
Profit Tax and the provisions on profit tax in other legal documents after the
Law on Enterprise Income Tax takes effect.
All issues regarding tax, tax
settlement, tax exemption and reduction and the handling of the violations of
profit tax prior to January 1st, 1999 shall be solved in accordance with the
related provisions of the Law on Profit Tax, the Law on the Amendments and
Supplements to a Number of Articles of the Law on Profit Tax and the provisions
on profit tax in other legal documents.
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This Law was passed by the IXth
National Assembly of the Socialist Republic of Vietnam, 11th session, on May
10, 1997.
THE
CHAIRMAN OF THE NATIONAL ASSEMBLY
Nong Duc Manh