| THE MINISTRY OF FINANCE ----------- | SOCIALIST REPUBLIC OF VIET NAM Independence - Freedom Happiness -------------- |
| No. 11/2004/TT-BTC | Hanoi, February 25th, 2004 |
CIRCULAR
GUIDING FINANCIAL REGIMES APPLICABLE TO CHU LAI OPEN ECONOMIC ZONE
Pursuant the December 16, 2002 State Budget Law; the May 20, 1998 Law on Domestic Investment Promotion (amended); the November 12, 1996 Law on Foreign Investment; the June 9, 2000 Law on Foreign Investment (amended), and the June 17, 2003 Laws on Enterprise Income Tax, Value Added Tax, and Special Consumption Tax;
Pursuant to the Prime Ministers Decision No. 108/2003/QD-TTg of June 5, 2003 promulgating the Operation Regulation of Chu Lai Open Economic Zone,
The Ministry of Finance hereby guides the financial regimes applicable to Chu Lai Open Economic Zone as follows:
I. GENERAL PROVISIONS
1. Scope of application:
Financial regimes prescribed in this Circular apply to Chu Lai Open Economic Zone (hereinafter abbreviated to Chu Lai OEZ), including Nui Thanh district township and the communes of Tam Nghia (excluding Chu Lai airport and a number of locations determined by the Peoples Committee of Quang Nam province), Tam Quang, Tam Hai, Tam Giang, Tam Hoa, Tam Hiep, Tam Anh, Tam Tien and Tam Xuan 1 of Nui Thanh district; and the communes of Tam Thanh, Tam Phu and Tam Thang, and An Phu ward, of Tam Ky provincial capital, Quang Nam province.
2. Subjects of application:
Subjects of application of financial preference policies prescribed in this Circular are Vietnamese as well as foreign organizations and individuals conducting production and/or business activities in Chu Lai OEZ, including:
a/ Domestic investors of various economic sectors operating under the provisions of the Law on State
b/ Foreign organizations and individuals, including foreign-invested enterprises, foreign investors participating in business cooperation contracts, overseas Vietnamese operating under forms prescribed in the Law on Foreign Investment in Vietnam, and foreign investors doing business not under the Law on Foreign Investment in Vietnam.
Only business activities carried out in Chu Lai OEZ shall be entitled to the preferences prescribed in this Circular. In cases where organizations and individuals conduct business activities both in Chu Lai OEZ and Vietnams inland, the business activities in Chu Lai OEZ must be separately accounted for use as basis for determination of preferential regimes.
For enterprises which had been granted operation licenses before June 5, 2003 but have not yet fully enjoyed the preferences, they must request the agencies which have granted the investment licenses, investment preference certificates or business registration certificates to make additional inscription for use as basis for enjoyment of preferential policies as prescribed in this Circular.
