THE MINISTRY OF FINANCE
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VIETNAM SOCIALIST REPUBLIC
Independence – Freedom - Happiness

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No. 15/2011/TT-BTC
Hanoi, February 09, 2011
 
CIRCULAR
GUIDING THE ESTABLISHMENT, ORGANIZATION, OPERATION, MANAGEMENT AND USE OF SCIENCE AND TECHNOLOGY DEVELOPMENT FUND OF ENTERPRISES
Pursuant to the Law on Enterprise Income Tax No. 14/2008/QH12 dated June 03, 2008 and documents guiding for implementation;
Pursuant to Article 45 of the Law on Technology Transfer No.80/2006/QH11 dated November 29, 2006 documents guiding for implementation;
Pursuant to the Law on Science and Technology No. 21/2000/QH10 dated June 28, 2000;
Pursuant to the Law on Enterprise No.60/2005/QH11 dated November 29, 2005;
Pursuant to the Decree No.118/2008/ND-CP dated November 27, 2008 of the Government providing functions, duties, powers and organizational structure of the Ministry of Finance;
After having opinion of the Ministry of Science and Technology, the Ministry of Finance guides on the establishment, organization, operation, management and use of science and technology development fund of enterprise as follows:
Chapter I
GENERAL PROVISIONS
Article 1. Scope of adjustment and subjects of application
This Circular guides on the establishment, organization, operation, management and use of science and technology development fund (hereinafter collectively called as the Fund) according to provisions of the Law on Enterprise Income Tax.
Subjects that are established the Fund according to provisions in this Circular are the enterprises established according to provision of the Law on Enterprise (hereinafter collectively called as Enterprises)
Article 2. Objects of establishment, competence and form of Fund organization
1. Objects of establishment
The Fund established by Enterprises to form finance source to invest in activities of science and technology of enterprises in Vietnam through activities of research, application and development, technology innovation, product innovation, production rationalization in order to improve the competitiveness of enterprises.
2. Competence of establishment
Based on the needs and financial capabilities to invest in the activities of science and technology of enterprises, persons who are the highest authority of the enterprises shall decide the establishment; define the tasks, powers and organizational apparatus of the Fund. Person who are the highest authority of the enterprises including:
a) Chairman of management board (for shareholding companies);