On the excise tax policy 

 

In Section 3, 42/2003/TT-BTC Circular dated 07.05.2003 of the Ministry of Finance guiding supplement, amend Circular of the Ministry of Finance 96/2002/TT-BTC 10/24/2002 guiding the implementation of Decree No. 75/2002/ND-CP dated 08/30/2002 of the Government on the excise tax exemption as follows: 

 

Temporary excise tax exemption for: Household salt production; socio-cultural post offices; the newspapers (print media, radio, television) according to some 237/CP-KTTH Dispatch date 03/25/1998 of the Government on the tax on newspapers; Service groups and shop, shop, business under Cooperative technical services activities directly serving agricultural production. 

 

Temporary 50% reduction in the excise taxes on fishing households; the commune people's credit funds; cooperatives specialized business services for agricultural production; shops, stalls and shops ... cooperative and private business enterprises in mountain areas (Areas are defined as mountainous to apply reduced excise tax shall comply with current regulations Government's). 

 

Resolution No. 2012 dated 05.10.2012 of the Government 13/NQ-CP about some solutions to remove difficulties for business support including market regulation: "excise exemption 2012 for fishing households and households producing salt ". 

 

Pursuant to the above provisions, the fishing households are entitled to a 50% excise tax. 2012 households own fishing license exemption under Resolution No. 13/NQ-CP. 

 

In terms of value added tax 

 

Clause 1, Article 5 of Law No. 13/2008/QH12 3/6/2008 VAT rules are not subject to value added tax: 

 

"Products of cultivation, animal husbandry, aquaculture, fishing has not been processed into other products or preliminarily processed by organizations and individuals producing, selling and fishing at import stage ". 

 

Based on the above guidance, case organizations and individuals to direct fishing and seafood sold are sold not subject to value added tax. 

 

On the personal income tax 

 

Clause 5, Article 4 of the Law on Personal Income Tax dated 21/11/2007 04/2007/QH12 specified number of income exempt from personal income tax: 

 

"The income of households and individuals directly involved in production agriculture, forestry, salt production, aquaculture, fishing has not been processed into other products or preliminarily processed". 

 

Pursuant to the above provisions, the income of households and individuals directly aquaculture, fishing has not been processed into other products or preliminarily processed normally exempt from income tax. 

 

On the corporate income tax 

 

Clause 3, Article 1 of the Law amending and supplementing a number of articles of the Law on Enterprise Income Tax dated 19.06.2013 No. 32/2013/QH13 regulations on income tax exemption of corporate income: 

 

To amend and supplement Clause 1 and Clause 4, Article 4; additional clauses 8, 9, 10 and 11 in Article 4 as follows: 

 

"Income from farming, animal husbandry, aquaculture, salt production cooperatives; income of cooperative activities in the field of agriculture, forestry, fishery and salt production in areas with difficult socio - economic conditions or in areas where economic conditions - particularly difficult social towels; business income from farming, animal husbandry, aquaculture in areas where economic conditions - especially social difficulties; income from fishing activities ". 

 

Pursuant to the above provisions, income from fishing activities of the organization is exempt from income tax corporate income. 

 

As such, under the provisions of the current tax law products from fishing by organizations, households and individuals directly caught selling taxable value added and income from operations are income tax exemption. In addition, Article 31 of Circular No. 156/2013/TT-BTC of the Ministry of Finance dated 06.11.2013 has prescribed cases taxpayers have difficulty in producing business due to natural disaster, accident in question the tax authorities requesting payment delay.