The Vietnamese Ministry of Finance Dec. 21 opened a consultation on a draft circular on tax deductions for investments in R&D funds. Topics covered include: 1) a maximum deduction of 10 percent for companies setting up R&D funds; 2) penalties and interest for irregular or improper use of fund amounts; and 3) additional requirements for companies failing to use at least 70 percent of the fund within five years of inception. [Vietnam, Ministry of Finance, 12/21/21]
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