| THE MINISTRY OF FINANCE ----------- | SOCIALIST REPUBLIC OF VIET NAM Independence - Freedom Happiness -------------- |
| No. 26/2004/TT-BTC | Hanoi, March 31st, 2004 |
CIRCULAR
GUIDING THE IMPLEMENTATION OF THE REGULATIONS ON TAX ON THE TRANSFER OF PROFITS ABROAD AND REIMBURSEMENT OF TAX ON REINVESTED INCOMES FOR FOREIGN INVESTORS
Pursuant to the Law on Foreign Investment in Vietnam, which was passed by the National Assembly of the Socialist Republic of Vietnam on November 12, 1996 and the Law Amending and Supplementing a Number of Articles of the Law on Foreign Investment in Vietnam, which was passed by the National Assembly of the Socialist Republic of Vietnam on June 9, 2000.
Pursuant to the Governments Decree No. 24/2000/ND-CP of July 31, 2000 detailing the implementation of the Law on Foreign Investment in Vietnam;
Pursuant to Enterprise Income Tax Law No. 09/2003/QH11;
Pursuant to the provisions of the Governments Decree No. 164/2003/ND-CP of December 22, 2003 detailing the implementation of the Enterprise Income Tax Law,
The Ministry of Finance hereby guides the implementation of the regulations on tax on the transfer of profits abroad and reimbursement of tax on reinvested incomes for foreign investors as follows:
I. GENERAL PROVISIONS
1. This Circular applies to foreign investors licensed to conduct business activities in joint-venture enterprises, enterprises with 100% foreign capital and business cooperation contracts set up under the Law on Foreign Investment in Vietnam, that earn incomes from lawful business activities in Vietnam and transfer such incomes abroad or use them for reinvestment in Vietnam.
2. In cases where the Vietnamese State or Government has acceded to or signed international treaties, agreements, or commitments with international organizations or other states or governments, which contain the provisions on tax on the transfer of profits abroad or reimbursement of tax on reinvested enterprise incomes different from this Circulars guidance, such international treaties, agreements or commitments shall apply.
