Vietnam: Regulations on tax incentives in Hoa Lac Hi-Tech Park

10:31, 10/06/2018

Recently, the Ministry of Finance of Vietnam issued Circular No. 32/2018/TT-BTC providing guidelines for the Government's Decree No. 74/2017/ND-CP on specific policies for Hoa Lac Hi-Tech Park (HHTP).

According to Circular No. 32/2018/TT-BTC of the Ministry of Finance of Vietnam, an enterprise that has investment project in the HHTP shall be entitled to the following tax incentives:

- Corporate income tax (CIT):

+ An enterprise that has income generated from the development of a new investment project in the HHTP is liable to the tax rate of 10% within 15 years, qualifies for a tax exemption within a maximum period of 04 years and gets 50% reduction in the amount of tax payable within 09 successive years in accordance with regulations in Clause 1 Article 13, Clause 1 Article 14 of the Law on corporate income tax.

+ An enterprise that has income generated from the development of a new investment project which has total investment of at least VND 4,000 billion in the HHTP is liable to the tax rate of 10% within 30 years, qualifies for a tax exemption within a maximum period of 04 years and gets 50% reduction in the amount of tax payable within 09 successive years from the first year in which it generates taxable income.

- Import duties, personal income tax and non-agricultural land use tax shall comply with applicable regulations of law on taxes.

View relevant provisions at Circular No. 32/2018/TT-BTC of the Ministry of Finance of Vietnam, effective from May 15, 2018.

- Thanh Lam -

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