The Decision prescribes corporate income tax incentives for special investment projects.
For instance, the 7% preferential rate lasting for 33 years will be applied to income generated from investment projects falling into one of the following cases:
- Investment projects for institution of innovation centers and research and development centers (including expansion thereof):
Having investment capital of at least VND 3,000 billion each and disbursing at least VND 1,000 billion within 03 years from the issuance date of the investment registration certificate or the approval decision for investment proposal.
- Investment projects classified as those prescribed in point b of clause 2 of Article 20 in the Law on Investment and meeting one of the following four criteria:
+ They are first-tier high technology projects;
+ Vietnamese enterprises participate in first-tier chains of these projects;
+ Added value accounts for between more than 30% and 40% of total production cost of outputs or end products supplied by a business entity;
+ They need to satisfy first-tier technology transfer requirements
Decision No. 29/2021/QĐ-TTg is entering into force as of October 6, 2021.
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