THE MINISTRY OF FINANCE
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SOCIALIST REPUBLIC OF VIET NAM
Independence - Freedom - Happiness
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No. 50/2006/TT-BTC

Hanoi, June 07, 2006

 

GUIDING THE APPLICATION OF IMPORT DUTY AND ENTERPRISE INCOME TAX PREFERENCES TO DUNG QUAT OIL REFINERY PROJECT

THE MINISTER OF FINANCE

Pursuant to 2005 Law No. 45/2005/QH11 on Import Tax and Export Tax;

Pursuant to the Government’s Decree No. 149/2005/ND-CP of December 8, 2005, detailing the implementation of the Law on Import Tax and Export Tax;

Pursuant to the Government’s Decree No. 164/2003/ND-CP of December 22, 2003, detailing the implementation of the Law on Enterprise Income Tax;

Pursuant to the Prime Minister’s Decision No. 546/QD-TTg of June 17, 2005, adjusting the investment project on Dung Quat Oil Refinery 1;

The Ministry of Finance hereby guides the application of import duty and enterprise income tax preferences to Dung Quat Oil Refinery Project as follows:

I. IMPORT DUTY PREFERENCE

1. Subjects exempted from import duty

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Subjects importing goods specified at Point 2, Section I of this Circular to serve construction and maintenance of Dung Quat Oil Refinery Project (hereinafter referred to as the Project) shall be exempted from import duty, including:

- Vietnam Oil and Gas Corporation - the Project investor (hereinafter referred to as the Investor), or

- Domestic and foreign contractors (including principal contractors and subcontractors) implementing bid packages of the Project;

Principal contractors are domestic or foreign organizations winning one of the bid packages of the Project and directly sign contract with the Investor (or organizations authorized by the Investor).

Subcontractors are organizations or individuals running independent business and signing contracts with principal contractors to perform part of the work under contracts which principal contractors sign with the Investor (or organizations authorized by the Investor)

- Importing enterprises entrusted by contractors under regulations on import entrustment.

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CIRCULAR

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