On August 30^th, at Vung Tau city, the Department of Science and Technology of BRVT in collaboration with the Department of Finance - Ministry of Science and Technology and the General Department of Taxation - Ministry of Finance organized training in “Guidelines for allocation and management of science and technology development fund of the enterprise".

On August 30^th, at Vung Tau city, the Department of Science and Technology of BRVT in collaboration with the Department of Finance - Ministry of Science and Technology and the General Department of Taxation - Ministry of Finance organized training in “Guidelines for allocation and management of science and technology development fund of the enterprise". Mr. Nguyen Ngoc Song – Director of Department of Finance (Ministry of Science and Technology), Mr Nguyen Quy Trung - Deputy Director of Department of Policy (General Department of Taxation) and more than 120 representatives from the provincial Departments and Agencies, Division of Economic / Economy - Infrastructure, Division of Finance - Planning of districts/cities, businesses, universities and colleges in Ba Ria – Vung Tau attended the event.

Application of science and technology to production is one of the key factors for enterprise development. In recent years, the Government has issued many programs and incentives to support and encourage scientific and technological activities of enterprises. Policy on allocation of science and technology fund is one of the noticeable programs. However, enterprises have not either been interested in allocation of this fund or faced difficulties in allocation and spending of such fund. The training aimed at assisting participants in the implementation of the Joint Circular No.12/2016/TTLT-BKHCN-BTC dated 28/06/2016 of the Ministry of Science & Technology and the Ministry of Finance on “Guidelines for the allocation and management of the science and technology development fund of the enterprises”.

According to Mr. Nguyen Ngoc Song, Joint Circular No.12/2016/TTLT-BKHCN-BTC includes 04 chapters and 18 articles, applied to businesses established in accordance with the law as well as relevant government agencies, organizations and individuals. The Circular will take effect on September 1^st, 2016 and apply to the allocation, management and using of science and technology funds of enterprises from the income tax period 2016. Enterprise can organize such fund under two forms: establishing a new organization with no legal status and belong to the enterprise; not establishing a new organization and shall be managed by the staff of the enterprise.

During the training, after providing information of the Joint Circular, the provincial Science and Technology Development Fund had been introduced, following by discussion and answer section. Difficulties and problems faced by businesses, such as establishment application documents, how to effectively use and manage such funds in accordance with the law, were addressed.