Circular No. 116/2012/tt-Btc: The Instructions Apply To Pilot The Enterprise Income Tax Policies For Small Scale Financial Institution Limited Liability A Member Of Love

Original Language Title: Thông tư 116/2012/TT-BTC: Hướng dẫn áp dụng thí điểm chính sách thuế thu nhập doanh nghiệp đối với tổ chức tài chính quy mô nhỏ trách nhiệm hữu hạn một thành viên Tình Thương

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The CIRCULAR instructed the pilot to apply enterprise income tax policies for small scale financial institution limited liability a member of love _ _ _ _ _ _ _ _ _ _ _ _ _ _ the base tax management Law 78/2006/QH11 on November 29, 2006;
Pursuant to the law on enterprise income tax of 14/2008/QH12 on June 3, 2008 and the writing guide;
Pursuant to Decree No. 118/2008/ND-CP on November 27, 2008 of the Government functions, tasks, powers and organizational structure of the Ministry of finance;
The base of the Prime Government comments in no. 2151/VPCP-KTTH on 03 April 2012 of the Government Office of the pilot whore apply policies enterprise income tax incentives for financial institutions to small scale limited liability a member of love;
The base of the opinion of the Governor of the State Bank of Vietnam in no. 3167/NHNN-TTGSNH on June 15, 2012;
Proposal of the Director of tax policy;
The Minister of Finance issued a circular guiding the pilot applied the policy of corporate income tax incentives for financial institutions to small scale limited liability a member of love. Article 1. The object and scope of this circular guide on the pilot applied the policy of corporate income tax incentives for financial institutions to small scale limited liability a member of love. Article 2. Preferential tax policy financial institutions small scale limited liability a member of love is applied the tax incentives are as follows: 1. the enterprise income tax rate of 20% for the duration of the operation for the income gained from the implementation of microfinance activities.
2. the enterprise income tax for two years, reduce 50% tax in the next four years for the income gained from the implementation of microfinance activities.
Time to tax exemption and reduction prescribed in clause 2 of this is calculated from the tax period in 2012.
Microfinance activity specified in this is the activity that small scale financial institution limited liability a member of love are permitted to perform as specified in article 119, 120, 121 and 122 of the Law Thing credit institutions the number 47/2010/QH12 and text instructions.
3. preferential tax policies for pilot-scale financial institution is under a limited liability members Love this circular rules applied from the tax period in 2012 until the corporate income tax Act No. 14/2008/QH12 are modified, added and are enforceable.
4. Principle of procedure of tax exemption and reduction of enterprise income tax made under the provisions of the corporate income tax Law No. 14/2008/QH12, tax administration Act No. 78/2006/QH11 and text instructions.
Article 3. Implementation 1. This circular has effect from September 1, 2012.
2. The content of this circular Guide and the content is not contrary to the instructions in this circular is made according to the current rules.
In the process if there are obstacles, suggest that small scale financial institution limited liability a member of love and the Organization, personal reflections in time about the Ministry of finance to study, additional instructions promptly.