Development of marine economy in Khanh Hoa province: Exemption for using sea area for 15 years for Vietnam aquaculture projects from 03 nautical miles to 06 nautical miles?
Exemption for using the sea area for 15 years for Vietnam aquaculture projects from 03 nautical miles to 06 nautical miles?
Pursuant to Clause 1, Article 8 of Resolution 55/2022/QH15 regulating the development of Vietnam aquaculture projects in Khanh Hoa province:
"Article 8. Marine economic development in Khanh Hoa province
1. Developing marine aquaculture within the marine area managed by the province:
a) On the basis of approval of the Ministry of National Defense, the Provincial People's Committee shall assign the variable area for marine aquaculture and grant the license for marine aquaculture to domestic investors in the offshore area. 06 nautical miles, the sea area is within and out of 06 nautical miles simultaneously;
b) Exemption from the fee for using the sea area for 15 years and reducing the fee for using the sea area by 50% for the remaining time for the area of the sea area assigned to implement the organization's project on marine aquaculture. , individual is a domestic investor having aquaculture activities at sea beyond 06 nautical miles, the area is within and outside of 06 nautical miles at the same time.
Apply the corporate income tax rate of 10%, tax exemption for 4 years and reduce 50% of payable tax for the next 9 years for income of organizations being domestic investors from aquaculture projects on the sea beyond 06 nautical miles, the area within and out of the sea at the same time 06 nautical miles;
c) Exemption from the fee for using the sea area for 15 years for the area of the sea area assigned to implement the project of marine aquaculture of organizations and individuals that are domestic investors engaged in aquaculture activities. products at sea from 03 nautical miles to 06 nautical miles.
Apply corporate income tax rate of 17%, tax exemption for 2 years and reduction of 50% of payable tax amount for the next 4 years for income of organizations being domestic investors from aquaculture projects in Vietnam. sea from 03 nautical miles to 06 nautical miles;
d) In the ability to balance the local budget, the Provincial People's Council decides to support the cost of buying accident insurance for employees working on aquaculture cages and on vehicles serving the activities. aquaculture activities at sea, financial support to buy disaster risk insurance for aquatic species raised at sea;
dd) The time for starting to enjoy incentives, conditions for applying tax incentives, and incomes eligible for incentives specified in this Clause must comply with the law on corporate income tax.
Organizations and individuals are not entitled to the incentives specified at Points b and c of this Clause in case of violations against regulations on allocating marine areas for aquaculture at sea and granting licenses for marine aquaculture according to regulations. provisions of relevant laws."
Thus, the development of marine Vietnam aquaculture projects in Khanh Hoa province is regulated as above.
How to establish a fishery support fund in Khanh Hoa province?
Pursuant to Clause 2, Article 8 of Resolution 55/2022/QH15 stipulating the establishment of the Khanh Hoa Fisheries Development Support Fund as follows:
"Article 8. Marine economic development in Khanh Hoa province
...
2. Establishment of Khanh Hoa Fisheries Development Support Fund:
a) Allow the establishment of Khanh Hoa Fisheries Development Support Fund to supplement resources for fishery development, invest in fishing port infrastructure works, processing facilities, post-harvest services; need for fisheries and other essential works for natural disaster prevention and control, serving the people's livelihood in Truong Sa district, which have not been invested by the state budget or have not been invested enough. Khanh Hoa Fisheries Development Support Fund is a national fund established by the Government and assigned to the province to directly manage;
b) Khanh Hoa Fisheries Development Support Fund receives support from the state budget of provinces and centrally run cities, funding from domestic and foreign organizations and individuals, and other sources. other lawful revenue;
c) The provinces and centrally-run cities may use the local budget to support the Khanh Hoa Fisheries Development Support Fund;
d) The Government shall detail the establishment and operation regulations of the Fund."
Thus, the establishment of Khanh Hoa Fisheries Development Support Fund is regulated as above.
Developing marine economy in Khanh Hoa province: Exemption from fees for using marine areas for 15 years for Vietnam aquaculture projects from 03 nautical miles to 06 nautical miles? (Image from: internet)
What is the goal of marine Vietnam aquaculture projects by 2030?
Pursuant to point b, Section 2, Part II of Decision 1664/QD-TTg on the development goals of marine Vietnam aquaculture projects by 2030 as follows:
Sea farming area is 300,000 ha, cage volume is 12.0 million m3; Vietnam aquaculture projects production reached 1,450,000 tons:
- Aquaculture near shore: 270,000 ha (20,000 ha inshore, 250,000 ha in tidal flats and inland), cage volume of 8.5 million m3; farming output reached 1,110,000 tons (sea fish: 80,000 tons, lobster: 5,000 tons, other crustaceans: 75,000 tons, mollusks: 550,000 tons and seaweed: 400,000 tons).
- Offshore Vietnam aquaculture projects of 30,000 ha; cage volume reached 3.5 million m3; Output reached 340,000 tons (sea fish: 120,000 tons, other crustaceans: 20,000 tons, mollusks: 100,000 tons and seaweed: 100,000 tons).
The value of export turnover reached 1.8 - 2.0 billion US dollars.
Resolution 55/2022/QH15 takes effect from August 1, 2022.
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