THE MINISTRY OF FINANCE
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SOCIALIST REPUBLIC OF VIET NAM
Independence - Freedom - Happiness
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No. 97/2002/TT-BTC
Hanoi, October 24, 2002
 
CIRCULAR
GUIDING THE FULFILLMENT OF TAX OBLIGATIONS BY VIETNAMESE ENTERPRISES INVESTING OVERSEAS
Pursuant to the current tax laws and ordinances of the Socialist Republic of Vietnam and the Government’s decrees detailing the implementation of tax laws and ordinances;
Pursuant to the Government’s Decree No.22/1999/ND-CP of April 14, 1999 prescribing the investment overseas by Vietnamese enterprises;
Pursuant to the Prime Minister’s Decision No.116/2001/QD-TTg of August 2, 2001 on a number of privileges and incentives for overseas investment in the field of petroleum activities;
Pursuant to the Government’s Decree No.178/CP of October 28, 1994 defining the tasks, powers and organizational apparatus of the Finance Ministry;
The Finance Ministry hereby guides the fulfillment of tax obligations by Vietnamese enterprises investing overseas under the provisions in the Government’s Decree No.22/1999/ND-CP of April 14, 1999 (hereinafter referred generally to as Decree No.22/1999/ND-CP) and the provisions in the Prime Minister’s Decision No. 116/2001/QD-TTg of August 2, 2001 (hereinafter referred generally to as Decision No.116/2001/QD-TTg), as follows:
I. GENERAL PROVISIONS
1. This Circular shall apply to Vietnamese enterprises mentioned at Point 1, Article 2 of Decree No.22/1999/ND-CP, which invest overseas under the provisions in Decree No.22/1999/ND-CP and the provisions in Decision No.116/2001/QD-TTg, including:
- Enterprises set up under the State Enterprise Law;
- Cooperatives set up under the Law on Cooperatives;
- Enterprises set up under the Enterprise Law.
Overseas investment petroleum projects mean projects on conducting petroleum activities including prospection and exploration, mine development and petroleum exploitation as well as activities in direct service of petroleum activities. The activities in direct service of petroleum activities shall include activities in service of prospection and exploration, mine development and petroleum exploitation, prescribed in the licenses or written approvals granted by the investment-receiving countries to overseas investment petroleum projects of Vietnamese enterprises.