Decision No 33/2009 QD Ttg states that businesses and individuals investing in EZ and non-tariff areas will be offered priorities in terms of tax, land rental and finance.
Projects in border gate economic zones (EZ) and non-tariff areas will enjoy a series of incentive policies, according to a new decision by the government.
Decision No 33/2009 QD Ttg states that businesses and individuals investing in EZ and non-tariff areas will be offered priorities in terms of tax, land rental and finance. They can invest directly in the zone.
The decision says the government will allocate state budget to assist important infrastructure construction projects in the EZs and non-tariff areas. Large-scale projects of this kind will be allowed to issue revenue bonds.
Projects to build important infrastructure and public works in the EZs will be put on the list of government projects calling for official development assistance (ODA).
Newly-licensed projects will enjoy a priority taxation of 10 percent within 15 years. There is also an exemption of income tax for four years, which gives investors a 50 percent tax reduction in the next years from the first year the investors have taxable income.
Vietnamese and foreign workers employed in the border gate EZs will also receive a 50 percent reduction in income tax.
As for non-tax areas, commodities and services that are produced, consumed in or imported to the areas will be exempted from value added tax (VAT).
The VAT exemption will also apply to commodities and services transferred from other localities to the tax-free areas.
(Source: VOV)
