Vietnam Pledges Special Tax Incentives for Chu Lai EZ Investors
Deputy Prime Minister Nguyen Sinh Hung has recently issued a circular on guidelines for tax initiatives and customs procedures for investors who want to invest in Chu Lai open Economic Zone in central Quang Nam province.
Domestic and foreign-invested enterprises operating in the EZ will be offered a corporate income tax rate of 10 per cent for 15 years from the beginning of operation.
These businesses will also be exempted from tax contribution for the first four years and enjoy a reduction of 50 per cent of payable tax for nine consecutive years.
The government of Vietnam will prioritize high-tech projects with 10 per cent corporate income tax rate during their whole life-span.
In the same move, the Deputy Prime Minister July 23 allowed the Quang Nam People’s Committee to set up an industrial park (IP) development company to construct Northern Chu Lai IP located in Chu Lai Open EZ. (Vietnam & World Economy, VNA)
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