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Investment Preferential Policies

Nguyễn Thành Tựu
0916.303.656

Name: NGUYEN THANH TUU-(MR. TONY)

Job title: MBA Lawyer – CEO- 

Phone: +84 9.19.19.59.39

Email: tuulawyer@nvcs.vn

Consultancy area: Investment- Tax- M&A – IP – Dispute settle.

Language: Vietnamese – English

INVESTMENT PREFERENTIAL POLICIES
I. LAND INCENTIVES

1. The land rents and water surface rents shall be exempted from the date of completion and putting into operation of the project, as follows:
a) Three (3) years with respect to projects on the List of encouraging investment industries; at new business establishments of the economic organizations which is moved due to the planning or environment pollution;
b) Seven (7) years with respect to investment projects located on the regions facing socio-economic difficulties;
c) Eleven (11) years with respect to investment projects located on the regions facing extreme socio-economic difficulties; investment projects on the List of special encouraging  investment industries; projects on the List of encouraging investment are invested in the regions facing socio-economic difficulties;
d) Fifteen (15) years with respect to projects on the List of encouraging investment industries which are invested in the regions facing extreme socio-economic difficulties; projects on the List of  specially encouraging  investment industries which are invested in the regions facing socio-economic difficulties. The List of encouraging investment industries and special encouraging investment incentives industries, the regions facing socio-economic difficulties, the regions facing extreme socio-economic difficulties are prescribed on the regulations of the Goverment.
2. For Agricultural Projects:
  • Special investment incentives: exemption of land use;
  • Investment incentives: 70% reduction of land use levy;
  • Investment promotions: 50% reduction of land use levy;
II. INCENTIVES FOR FINANCIAL POLICIES
1. Corporate income tax:

According to the Law on Corporate income tax, the common tax rate applied from 2016 was 20%.

No. Tax rate Provision The duration of application Exemption, Reduction from corporate income tax
Exemption of corporation income tax Reduction of  corporation  income tax
1 10%
– Incomes of enterprises from the execution of new investment projects in regions facing extreme socio-economic difficulties, economic zones, and hi-tech zones.
– Incomes of enterprises
from the execution of new investment projects, including: scientific research and technology development; application of high technologies; production of composite materials, light building materials, rare materials, renewable energy, clean energy, energy from waste destruction; development of biological technology, and environment protection;
15 years from the first year of taxable incomes from investment projects 4 years 50% reduction but not exceed 9  years in subsequent years
Incomes of hi-tech enterprises and agricultural enterprises that apply high technologies according to the Law on High Technologies 15 years from the issuing date of the certificate
2 20%
– Incomes of enterprises from the execution of new projects of investment in localities facing socio-economic difficulties;
– Incomes of enterprises from the execution of new investment projects of investment in regions facing socio-economic difficulties;
– Incomes of enterprises from the execution of new investment projects, including: production of high-grade steel; production of energy-saving products; production of machinery and equipment serving agriculture, forestry, aquaculture, salt production; production of irrigation equipment; production and refinement of feed for livestock, poultry, and aquatic organism; development of traditional trades.
From January 01, 2016, incomes of the enterprises defined in this Clause are eligible for the tax rate of 17%.
­- Incomes of enterprises from the execution of new investment projects in industrial parks, except for industrial parks in advantaged localities
15 years from the first year of taxable incomes from investment projects 2 years 50% reduction but not exceed 4  years in subsequent years

 

III. THE CITY ENCOURAGE ENTERPRISES WITH FOREIGN CAPITAL INVEST IN TRADES AND SERVICES, SPECIFIC FIELDS AS FOLLOWS:
1. Nine main services: finance; banking; insurance; commerce; travel; transport services, port and warehousing; postal service, telecommunications, information technology  and media; real estate business, consulting  services of science and technology; medical service; educations and training.
2. Industries: High technology; mechanical engineering, electronics – computing; automobile manufacture and assembly; Industries support for the development of this sectors and the processing crystals food industry and pharmaceutical industries.
 3. Agriculture: The city is encouraging invest in fields: Production and development trees, animals, forest trees, aquatic animals; biotechnology applications; production and refining of animal, poultry and aquatic animals feed;  manufacture machines that server for agricultural production, forestry, fisheries, salt production, food processing machines, irrigation equipment; Development and high-tech incubators; Technical industrial crops services, forest trees; plant protection services, pets; Scientific consulting services, technology about cultivation, animal husbandry, aquaculture, animal health, plant protection.

4. The project building the synchrous infrastructure system with the modern large-scale, such as:

  • Development in road traffic infrastructure having large effect and contributing to economic – social growth; Invest in vehicles for public passenger transport having a capacity as large as urban rail or bus rapid transit (BRT); Renovation, synchronous development and modernization of urban infrastructure.
  • Protection of the environment and natural resources, coping with climate change and green growth; Prevention and control flooding caused by rain and tides.
  • Development in social infrastructure in health and education.
  • Development in human resources, especially high human resources. Development in science, technology and knowledge economy towards the goal of sustainable growth.
For businesses to invest in the fields, trades on; The Center and the city have  a number of supporting policies, as follows:

  • The corporate income tax rate is reduced to 20% (applied from January 1, 2016)
  • Applying the rate of 10% during the fifteen years for the income of high-tech enterprises, agricultural enterprises applying high-tech applications in accordance with the Law on high technology.
  • To exempt or reduce import duties for equipment, machinery, building materials serving fixed assets formation and research activities.
  • To exempt or reduce import duties and VAT for goods imported for directly use in scientific research and technological development.
  • For projects in the field of encouraging investment in agriculture and rural areas was mentioned above, are entitled to the policy: To exempt or reduce land use fees; Exempt and reduce land rent and water surface rent; Support, lease land or water surface by households and individuals; Exempt and reduce land use fees when changing land use purposes. Support training of human resources; Support for market development; Support for consulting services; Support applied science and technology; Support freights.

(Source: Department of Planning and Investment of Ho Chi Minh City)

Any question please contact NVCS for detail case-by-case legal advices.

CONTACT US

Hotline: +84 919 19 59 39 (Call Lawyer immediately for free consultation – Mr. Tuu)

Email: Luatsu@nvcs.vn (Just CLICK on Email and fill in the blank with your information, the Customers shall be quickly complete the legal process)

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