Many Tax Incentives for Enterprises in the Period 2018 - 2020

Le Thuy

08:14, 11/07/2024

The Prime Minister of the Government of Vietnam has just approved the Plan for Restructuring the Industrial Sector for the period 2018 - 2020 in Decision 598/QD-TTg. During this period, many new policies on tax, import, and industry will change in a direction that encourages enterprises.

To be specific, in the roadmap from 2018 to 2020, Ministries must develop and complete policy systems to meet the following requirements:

- Ensure that automobile imports within the ASEAN bloc meet the conditions to enjoy a 0% tax rate;- Amend and supplement tax policies: Adjust the price for special consumption tax calculation, adjust regulations related to VAT to encourage domestic production enterprises replacing imports, revise regulations on import tax for materials and equipment for machinery;- Support enterprises investing in priority sectors, preferential interest rates for loans when investing in priority sectors;- The automotive industry, food processing, tobacco, and dairy industries are facilitated to develop.

See the detailed Plan at Decision 598/QD-TTg which is effective from May 25, 2018.

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