According to the guidelines provided at Official letter No. 2550/BTC-TCT dated March 12th, 2021, the following activities are considered to belong to “aquatic processing” and are entitled to incentives according to regulations of laws on enterprise income tax (EIT).
(i) Processing from aquatic products frozen to -18 degrees Celsius (except for chilling activities done on fishing vessels);
(ii) Processing from fresh products into cooked products;
(iii) Processing from raw materials mixed with spices and ingredients to produce value added goods.
If there remain problems in determination of aquatic processing activities, Departments of Taxation may discuss with local specialized agencies for obtaining guidelines.
|Published||Vietlaw's Newsletter No. 629|