Rich Incentives for Solar Power Projects
The Prime Minister recently issued a decision on the mechanism on incentives for development of solar power projects in Vietnam. The decision takes effect from June 1, 2017 to June 30, 2019.
Accordingly, organisations and individuals engaging in solar development projects will get preferential benefits on investment, tax, and land.
Specifically, solar power projects will enjoy tax exemption for imported equipment used to form fixed assets of such projects which cannot be produced in the country. These projects are also entitled to corporate income tax exemption and reduction according to the law.
In addition, solar power projects, transmission lines and transformer stations used to power connection to the national grid will be granted land and water surface rent reduction and exemption, according to the current law. Based on planning approved by competent authorities, Provincial/Municipal People’s Committees will arrange land allocation for solar power projects. Compensation for site clearance will be conducted in line with the current regulations.
Thu Ha
Vietnamese
