From 1 January 2012, companies were no longer entitled to enjoy incentives based on the export criteria, as a result of Vietnam's WTO commitments. Thus, the Ministry of Finance ("MoF") has issued Circular No. 199/2012/TT-BTC ("Circular 199") on 15 November 2012, on the alternative CIT incentives available to these affected companies. Circular No. 199 supplements the earlier issued Decree 122/2011 and applies from the 2012 tax year. It also supersedes previous guidelines issued by the MoF. In general, the principle remains the same, i.e. that the affected companies can select alternative CIT incentives and may apply them for the remaining...