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

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Pepsi document proposal enterprise income tax

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