From July 1, 2025, what tax incentive policies apply to national treasures purchased and displayed in museums in Vietnam?

What is a national treasure in Vietnam according to the Law on Cultural Heritage 2024?

Pursuant to Clause 8, Article 3 of the Law on Cultural Heritage 2024 (effective from July 1, 2025), the regulation is as follows:

Terminology Explanation

In this Law, the following terms are understood as follows:

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4. Scenic landscape is a natural landscape or a natural landscape and a site combined with an architectural work of historical, scientific, or aesthetic value.

5. Documentary heritage is original information content intentionally created by a group of people or individuals, directly expressed through symbols, codes, writing, drawings, sounds, static or dynamic images, digital and other forms on original information carriers that can be accessible, having historical, cultural, scientific, or aesthetic value to at least one community, inherited and transmitted.

6. Relic is an object handed down with historical, cultural, or scientific value.

7. Antique is a relic with exemplary value in terms of history, culture, or science, dating back 100 years or more.

8. National treasure is a relic, an antique of exceptionally rare and outstanding value to the country in terms of history, culture, or science.

9. A collection is a set of relics, antiques, national treasures, documentary heritage systematically collected, preserved, and organized according to common features of form, content, or material to meet the demand for understanding natural and social history.

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Thus, a national treasure is understood as a relic, antique of exceptionally rare and outstanding value to the country in terms of history, culture, or science.

From July 1, 2025, what tax incentive policies apply to national treasures purchased and displayed in museums in Vietnam? (Image from the Internet)

From July 1, 2025, what tax incentive policies apply to national treasures purchased and displayed in museums in Vietnam?

Pursuant to Clause 6, Article 51 of the Law on Cultural Heritage 2024 (effective from July 1, 2025), the regulation is as follows:

Recovery, purchase, and repatriation of Vietnamese-origin relics, antiques, national treasures from abroad

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3. In case of discovering Vietnamese-origin relics, antiques, or national treasures abroad, originating from a locality, the provincial People's Committee organizes identification, listing, and value determination; mobilizes resources according to its authority or proposes to the Ministry of Culture, Sports, and Tourism to implement the recovery, purchase, and repatriation plan.

4. The purchase, transfer of ownership, and handover of Vietnamese-origin relics, antiques, national treasures from abroad back to Vietnam is carried out according to the provisions at point b and point c, Clause 1, Article 42 of this Law.

5. In case Vietnamese-origin relics, antiques, national treasures are identified by the Ministry of Culture, Sports, and Tourism, with a proposal for recovery or purchase from abroad back to the country, the Prime Minister of the Government of Vietnam decides on the recovery plan or uses the state budget for purchase, repatriation to Vietnam.

6. Relics, antiques, national treasures that organizations, individuals purchase, bring back to Vietnam for display, preservation, and value promotion in museums, traditional houses, memorial houses, exhibition halls, if confirmed by a competent state agency not for profit motives or donated, transferred to the State, shall enjoy tax incentives on import tax, value-added tax, and implementation costs can be counted as deductible expenses when determining taxable income, other related tax incentives as prescribed by the law on taxes, fees, and charges.

7. The Government of Vietnam stipulates the order, procedures, and dossier for granting import permits for Vietnamese-origin relics, antiques, national treasures from abroad back to the country as specified in Clause 2 of this Article and details Clause 6 of this Article.

Thus, from July 1, 2025, national treasures purchased and displayed in museums in Vietnam, if confirmed by competent state authorities as not for profit motives or donated, transferred to the State, shall enjoy tax incentives on import tax, value-added tax, and implementation costs can be counted as deductible expenses when determining taxable income, along with other related tax and fee incentives as prescribed by the law on taxes, fees, and charges.

What are procedures for recognition of national treasures in Vietnam from July 1, 2025?

According to the provisions in Clause 2, Article 44 of the Law on Cultural Heritage 2024, the recognition of national treasures from July 1, 2025 is carried out as follows:

- The Chairman of the provincial People's Committee, Ministers, heads of central sectors, agencies, organizations direct the selection, scientific documentation of artifacts for proposing recognition, additional recognition as a national treasure sent to the Minister of Culture, Sports, and Tourism. In case of artifacts being jointly owned or privately owned, the dossier sent to the Ministry of Culture, Sports, and Tourism must be accompanied by the owner’s proposal;

- The Minister of Culture, Sports, and Tourism reviews and submits to the Prime Minister of the Government of Vietnam for recognition, additional recognition of national treasures, issuance of recognition certificates, additional recognition certificates after obtaining the appraisal opinion of the Appraisal Council established by the Minister of Culture, Sports, and Tourism.

The dossier submitted to the Prime Minister of the Government of Vietnam must include the written opinion of the National Cultural Heritage Council;

- The Prime Minister of the Government of Vietnam decides on the recognition, additional recognition of national treasures, issuance of recognition certificates, and additional recognition certificates.