Unfulfilled investment incentives retain preferential CIT

As regulated, only businesses who follow all regulations written in investment incentive certificates are entitled to exemption or reduction of corporate income tax (CIT). However, according to Official Letter 3510 TCT/DNK dated October 25, 2004 by the General Department of Taxation, in case there is a difference in the number of employees written in the investment incentive certificates and the number of employees that businesses are employing however the businesses still abide regulations on the minimum number of employees, the businesses are still entitled to preferential CIT.
[Official Letter 3510 TCT/DNK dated October 25, 2004]

 

Category: Legal