Vietnam: Specific policies for Hoa Lac hi-tech park

Application of the enterprise income tax rate of 10%

According to Vietnam’s regulations, projects launched in the hi-tech park shall have the greatest incentives in accordance with regulations of the Law on Investment and Law on Tax.

New investment projects in the hi-tech park which have at least 4000 billion VND capital shall apply the enterprise income tax rate of 10% in a period of 30 years.

The projects which received investment license grant from people’s committee of a province before the Prime Minister approves the adjusted general planning for constructing the hi-tech park (May 23rd, 2008) and are running in the hi-tech park shall be given tax incentives as mentioned in the certificate of investment/investment license/certificate of investment incentive.

Being given the priority to be allocated sufficient land for building houses provided for employees

With regard to policies on building houses provided for employees working in the hi-tech park, Hanoi People’s Committee shall allocate sufficient land for building houses provided for employees working in the hi-tech park. The State encourages and enables organizations and individuals to invest in housing development (including technical infrastructure, social infrastructure and housing constructions).

Entities running projects on constructing houses provided for employees working in the hi-tech park shall be given incentives in terms of taxes, land rents and land levies in accordance with regulations of applicable law and this Decree.

Decree No. 74/2017/ND-CP of Vietnam’s Government stipulates that investors, experts and employees who are overseas Vietnamese or foreigners and their family members (including fathers, mothers, wives or husbands, offspring and adopted children under 18 years old) shall be considered to be granted exit and entry visas which are valid for multiple times and whose duration is consistent with their presenting work time in the high-tech park.

In addition to the policies on investment support specified above, domestic and foreign individuals and organizations that have invested in and worked at the hi-tech park are also eligible for other incentives in accordance with regulations of law when meeting certain conditions as prescribed.

The Ministry of Science and Technology shall submit requests for additional incentives for projects in the hi-tech park in which investment is particularly encouraged to the Government or the Prime Minister for decision.

Source: Bnews

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