Application from Pepsico for preferential enterprise income tax.

09:13 | 14/07/2016 Finance Follow english.haiquanonline.com.vn on

VCN-The Goverment office has issued a document from the Prime Minister to the Ministry of Finance about responding to Suntory Pepsico Vietnam Limited Liability Beverage Company asking for a meeting to address the company’s request for preferential enterprise income tax to apply to the company’s branch in Can Tho.

application from pepsico for preferential enterprise income tax

Suntory Pepsico Vietnam has petitioned for preferential Enterprise income tax multiple times. Illustrated photo: Internet

Previously, Pepsico has repeatedly pushed for preferential enterprise income tax treatment for the company’s project in Can Tho.

In Feburary 2015, the Ministry of Planning and Investment, in response to a Pepsico application, stated the only organisation that can apply for this enterprise income tax treatment must be a legal entity, not investment projects.

Therefore, to exercise enterprise income tax for the company project in Can Tho (under the form of the company branch) Paragraph 4 of Article 36 of Decree 24/2007/ND-CP will be applied be regulation. Specificly, the business will be exempted from the enterprise income tax for 3 years and reduce by 50% the amount of tax that needs to pay for the next 5 years.. Nevertheless, Suntory Pepsico Vietnam was not satisfied with this decision, which led to dialogue between the authorities of HCM city with many other foregin invested companies in the last 3 months and Suntory Pepsico Vietnam has yet to put its proposals.

By Huong Diu/Ngoc Loan

Tags:

Pepsi document proposal enterprise income tax

Related News

From January 1, 2025: 13 product codes increase export tax to 20%

14:23 | 29/12/2024 Regulations

VCN - According to the Export Tariff (XK) issued with Decree 26/2023/ND-CP, from January 1, 2025, there will be 13 commodity codes with an export tax rate of 20%.

Tax sector achieves revenue target of about VND1.7 million billion

18:32 | 21/12/2024 Finance

VCN – Motivated by the revenue collection by the end of December 2024, the General Department of Taxation has accomplished the revenue collection.

Achievements in revenue collection are a premise for breakthroughs in 2025

09:57 | 18/12/2024 Customs

VCN – Motivated by great efforts and effective implementation of solutions, as of December 10 the total State revenue from imports and exports saw a year-on-year increase of 13.8% to VND397,861 billion, meeting 106.1% of the estimate. The revenue us estimated to reach VND420,000 billion, meeting 112 % of the estimate, up 13.9% over the same period in 2023. The achievements in 2024 are a premise for a breakthrough in revenue collection in 2025.

Answering many questions from businesses at dialogue conference on tax and customs policies

10:01 | 17/12/2024 Finance

VCN - Many opinions and recommendations related to tax and customs issues were raised by the business community at the dialogue on tax and customs policies and administrative procedures in 2024, organized by the Ministry of Finance.Representatives of the Ministry of Finance, the General Department of Taxation, and the General Department of Customs provided specific responses, and affirmed that they will continue to research and advise on the assessment, review, and amendment and supplementation of appropriate regulations.

Latest News

Personal income tax proposed for interest on some bank savings accounts

10:31 | 20/02/2025 Finance

Instead of the current personal income tax exemption on interest from all individual bank savings accounts, the proposal would exempt tax only for low amounts of savings.

Banks set for aggressive bond issuance in 2025 to fuel growth

16:20 | 19/02/2025 Finance

With a higher credit growth goal set by the SBV, banks are ramping up their efforts to secure funding through bond issuance.

Central bank cuts interest rate on bills for first time in 2025

15:30 | 18/02/2025 Finance

According to data from the financial data provider Wichart, the SBV issued VNĐ19.6 trillion of bills in the past week. The interest rate on the bills decreased by 0.1 percentage point, from 4 per cent to 3.9 per cent on February 14.

Focusing on inspecting inventory of public assets at units with large and complex assets

16:31 | 15/02/2025 Finance

VCN - According to Official Dispatch No. 1456/BTC-QLCS on inspecting the preparation and implementation of the General Inventory of Public Assets recently issued by the Ministry of Finance, the inspection of the inventory of public assets focuses on units with large asset scale and large number of inventory items, complex assets, and slow implementation progress.

More News

The government seeks approval for revised GDP, CPI targets

16:28 | 15/02/2025 Finance

VCN - The Government submitted to the National Assembly for consideration and comments on adjusting the target for the growth rate of gross domestic product (GDP) to 8% or more; the average growth rate of the consumer price index (CPI) to about 4.5-5%.

Fiscal, monetary policies support demand stimulation, price stabilisation

14:49 | 14/02/2025 Finance

These efforts, in conjunction with the implementation of monetary policies and other macroeconomic policies, aim to solve difficulties for businesses and the public, stabilise the macroeconomy, control inflation, ensure the balance of the economy, promote economic growth, and secure social welfare and people’s livelihoods.

Vietnam secures VND 157 billion from state enterprise divestment in 2024

09:16 | 14/02/2025 Finance

VCN - The Ministry of Finance reported that in 2024, the divestment of state capital in 5 enterprises (F1) generated VND 157 billion from an initial value of VND 145 billion

Vietnam gears up for potential inflation impact in 2025

14:26 | 11/02/2025 Finance

VCN - For sound price management and inflation control, Deputy Prime Minister Ho Duc Phoc directed officials to vigilantly track both domestic and international market dynamics. The goal is to proactively develop flexible strategies and solutions, enabling a swift response to any emerging challenges.

VN’s credit conditions in 2025 expected to be stable

14:24 | 11/02/2025 Finance

The credit conditions for Việt Nam will stabilise in 2025, after improving substantially over the past year, the rating agency VIS is forcasts.

State revenue in first month of the year equal to 14% of the estimate

10:12 | 11/02/2025 Finance

VCN - According to the Ministry of Finance, in January - the first month of 2025, the total state budget revenue is estimated at VND275.9 trillion, equal to 14% of the estimate; meanwhile, the total state budget expenditure is estimated at VND134.4 trillion.

Securities 2025 expects a breakthrough in scale and quality

14:37 | 10/02/2025 Finance

VCN – The positive factors inherent in the macro economy and the Vietnamese stock market will continue to create the foundation for the market to maintain stability, good liquidity, and growth in both scale and quality in the new year of At Ty 2025, Chairwoman of the State Securities Commission Vu Thi Chan Phuong said.

Cash reserves in stock accounts at six-quarter low amid margin rise

08:23 | 10/02/2025 Finance

These funds are readily available in investor accounts, but remained undeployed as of the year-end.

Five solutions for developing stock market in 2025

10:01 | 07/02/2025 Finance

VCN - On February 5, 2025, at the Gong-beating ceremony to open the stock trading at the Ho Chi Minh City Stock Exchange (HOSE), Deputy Minister of Finance Nguyen Duc Chi introduced five solutions for comprehensive development of the stock market.

Your care

Latest Most read