On 7 November 2022, the Ministry of Finance (MoF) of Vietnam published a Circular No. 67/2022/TT-BTC which provides a detailed tax obligations guideline for the companies that create and use a science and technology development (STD) fund.

As per the circular Enterprises are allowed to create an STD fund at a rate range from 3% to 10% for a state-owned-enterprise while other enterprises may apply a rate not exceeding 10% of the taxable income determined in an enterprise’s CIT calculation. The Circular 67 effects from 23 December 2022 and applies from the tax year 2022 onwards.