Vietnam: Organizations and individuals that manufacture energy-saving products are entitled to tax incentives

Thu Hien

15:23, 01/01/2015

The Law on Economical and Efficient Use of Energy 2010 of Vietnam provides economical and efficient use of energy; policies and measures to promote economical and efficient use of energy; and the rights, obligations and responsibilities of organizations, households and individuals in economical and efficient use of energy.

The Law on Economical and Efficient Use of Energy 2010 of Vietnam has specified incentives for economical and efficient use of energy, including:

- Projects promoting economical and efficient use of energy shall be considered for financial support from the national program on economical and efficient use of energy.

- Organizations and individuals that manufacture energy-saving products and invest in production lines or expand production with energy-saving technologies are entitled to the following incentives and supports:

+ Incentives on import and export duties and enterprise income tax under the tax law;

+ Incentives under the land law;

+ Concessional loans from the development bank, the fund for science and technology development support, the national fund for technological renovation and the environment facility and supports from the national programs on hi-tech development and economical and efficient use of energy;

+ Other incentives under this Law and relevant laws.

- Devices, equipment, components and supplies for research to develop energy-saving technologies and products, fuel-saving vehicles and those using liquefied gas. natural gas, electricity and mixed fuels and biofuels which are domestically unavailable and on the list provided by the Government are entitled to import duty exemption or reduction under the tax law.

View more: The Law on Economical and Efficient Use of Energy 2010 of Vietnam officially takes effect from January 01, 2011.

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