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The Circular defines the preferential implementation on corporate income tax, import tax and non-agricultural land use tax.
Corporate income tax
New projects meeting demands on preferential corporate tax based on the Law No. 14/2008/QH12, dated June 3, 2008, on enterprise income tax, the Law No. 32/2013/QH13, dated June 19, 2013, on amending and supplementing some articles of the Law on Corporate Income Tax and the Law No. 71/2014/QH13 dated November 26, 2014 on amendments to the tax Law will enjoy the preferential corporate tax.
New projects in economic zones and high-tech industrial parks will also enjoy the preferential tax in accordance with regulations on corporate income tax.
Preferential import tax
Projects in preferential sectors and industries or launched in disadvantaged socio-economic development areas will be applied with preferential import tax.
Imported goods to create fixed assets and materials, equipment and accessories which have not been produced domestically (excepts projects on automobile manufacturing and assembling , motorcycles , air conditioners, electric heaters , refrigerators , washing machines , electric fans , dishwasher , DVD , stereo , electric irons , kettles , hair dryers and drying hands) will be exempted from import tax within five years.
Investment projects in hotels , offices, apartments , houses , commercial centers , technical services , supermarkets , golf courses , resorts , sports , amusement parks , clinics and treatment , training , culture , finance , banking , insurance , audit and consulting services will enjoy first import tax for equipment in the list of the Appendix II in Decree No. 87/2010/ND-CP detailing a number of articles of the Law on Import Duty and Export Duty.
Non-agricultural land use tax
Projects in special sectors and realized in disadvantaged socio-economic development areas, having capital of more than VND6,000 billion and minimal disbursement of VND6,000 billion within three years since the issuance of the license day or hiring more than 500 local workers will be eligible for non-agricultural land use tax.
The Circular will take effect on August 1, 2016.
(Source:VGP)
