This is the prominent content prescribed at the Decision No. 19/2015/QD-TTg dated June 15, 2015 of the Prime Minister prescribing criteria for identifying hi-tech enterprises.
Accordingly, from August 01, 2015, beside satisfying the criteria prescribed at Point a and b, Article 75 of the Investment Law, a hi-tech enterprise must satisfy the criteria that the enterprise’s revenue from hi-tech products must account for at least 70% of its total annual net revenue and the enterprise’s total expenses for research and development activities conducted in Vietnam must account for at least 1% of its total annual net revenue, for small- and medium-sized enterprises, or 0.5%, for enterprises with a total capital of over VND 100 billion and more than 300 employees.
Especially, the number of research and development staff members holding a university or higher degree must account for at least 5% of the enterprise’s total number of employees, for small- and medium-sized enterprises. For enterprises with a total capital of over VND 100 billion and more than 300 employees, the number of research and development staff members holding a university or higher degree must account for at least 2.5% of the total number of employees and be not less than 15.
This Decision takes effect on August 01, 2015.
Source: luatvietnam.vn
