This is a significant content in Circular 162/2007/TT-BTC guiding financial policies and customs procedures applied to the border-gate economic zone of An Giang province in Vietnam.
Subjects of application for financial incentives of An Giang Border-gate Economic Zone in Vietnam (Illustration)
Circular 162/2007/TT-BTC stipulates that the beneficiaries of financial incentives for the Border-gate Economic Zone of An Giang province include Vietnamese and foreign organizations and individuals engaging in production and business activities within the Border-gate Economic Zone in Vietnam, encompassing:
- Domestic investors from various economic sectors operating under the provisions of the Law on State Enterprises, Enterprise Law, Cooperative Law, household businesses, and independent practitioners.- Foreign organizations and individuals, including enterprises with foreign investment capital; foreign investors participating in Business Cooperation Contracts; overseas Vietnamese operating under the Law on Domestic Investment Promotion (amended), Law on Foreign Investment in Vietnam, and foreign investors conducting business not under the Law on Foreign Investment in Vietnam.
Only production and business activities undertaken within the commercial and industrial zones are eligible for incentives offered to these areas. In cases where organizations and individuals have business activities in both the commercial and industrial zones and the domestic region of Vietnam, they must separate accounting records for activities in the commercial and industrial zones to determine incentives.
For investment incentive projects that have received investment licenses or investment incentive certificates with higher tax incentives than those stipulated in Decision 65/2007/QD-TTg, they will continue to enjoy the incentives recorded in the investment license or investment incentive certificate for the remaining project duration; in cases where the investment license or investment incentive certificate specifies lower tax incentives, they will benefit from the more favorable incentives stipulated in Decision 65/2007/QD-TTg for the remaining incentive period.
For further details, see Circular 162/2007/TT-BTC which comes into effect in Vietnam from January 29, 2008.
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