On the morning of October 30, 2024, QTSC coordinated with the Ho Chi Minh City Department of Science and Technology and the Ho Chi Minh City Tax Department to organize a seminar titled “Guidelines for establishing and utilizing science and technology development funds of enterprises”. The program aimed to help enterprises better understand the purpose and advantage of establishing and using their science and technology development funds.

Giving the opening remarks, Mr. Tran Huu Dung, CEO of QTSC, emphasized that besides creating a financial resource, establishing such a fund to support R&D and systematic technology innovation is essential for enhancing enterprises’ competitive capacity in the current globalized context.

 Mr. Tran Huu Dung, CEO of QTSC, giving the opening remarks

During the seminar, representative of Ho Chi Minh City Department of Science and Technology presented the guidelines on the procedures for formality and using science and technology development funds. According to Department’s representative: “Science and technology development funds of enterprises are used to strengthen their scienctific and technological potentialities, industries and sectors, contributing to improved operational efficiency. The fund is also used to equip facilities, purchase machinery and equipment, along with more advanced technology transfers. This is regarded as a key policy to promote research and development activities in science and technology, fostering conditions for enterprises’ innovation and competitiveness while also reflecting the State’s policy of mobilizing social resources for investment in science and technology, particularly in corporate technological innovation”.

 Representative of Ho Chi Minh City Department of Science and Technology presented the guidelines on the procedures for formality and using science and technology development funds of enterprises

The representative of the Ho Chi Minh City Tax Department also highlighted some key tax policies when establishing and using science and technology development fund. Notably, Circular No. 67/2022/TT-BTC, issued by the Ministry of Finance on November 7, 2022, outlines tax obligations related to establishment and utilization of science and technology development funds of enterprises.

 The representative of the Ho Chi Minh City Tax Department presented key tax policy considerations

The seminar also included an interactive session where speakers addressed questions and concerns from enterprises regarding the esteablishment of the fund, as well as depreciation deductions and expenses covered by the fund.

 Mr. Phan Quoc Tuan, Deputy Manager of the Technology Management and Technology Market Department, Ho Chi Minh City Department of Science and Technology, addressed the questions from enterprises

 Mr. Tran Huu Dung, CEO of QTSC, gave thank you gifts to the speakers

The organizers took souvenir photos with the speakers and participants

Source: QTSC