10:56:35 AM | 7/3/2006
Alongside its naturally gifted potential, An Giang province is promoting its administrative reform for completing its investment environment to attract Vietnamese and foreign investors.
Priorities in land rent
Investors will enjoy priorities during their capital construction period, and the project’s capital construction suspension due to difficulties and for 11 years since the date of their capital construction completion and the project suspension with certification of investment licensing agencies.
Also, investors will enjoy land rent reduction if they pay land rent for many years once in the first year. Specifically, if investors pay land rent for five years in advance, they will enjoy a reduction of five per cent for land rent of the five years. If they pay for more than five years in advance, they will enjoy the highest reduction of 25 per cent of total land rent for the whole period, with each year equal to one per cent of land rent reduction. If investors pay their entire land rent for the whole period of over 30 years, they will enjoy a reduction of 30 per cent of their payable land rent.
Priorities in corporate income tax
Investors will have a tax rate of ten per cent imposed for the whole duration of the project and will enjoy corporate income tax exemption and reduction. Accordingly, they will be exempted from corporate income tax for eight years since their build-operate-transfer (BOT), build-transfer-operate (BTO), and build-transfer (BT) infrastructure development projects are profitable. Investors in other fields will be exempted from corporate income tax for four years since their projects are profitable and enjoy a reduction of 50 per cent for following years. They will receive their corporate income tax back in case of reinvestment.
They will also enjoy a tax rate of three per cent for profit transfer to foreign countries. They will be exempted from import and value added tax for some commodities.
Infrastructure development support
The State will provide support for infrastructure development with the building of technical works to fence of foreign-invested enterprises, industrial parks, export processing zones and hi-tech parks. Foreign-invested enterprises may pay in advance and will get their investment refunded.
Apart from the above mentioned priorities, investors in An Giang will enjoy more priorities in land rent and administrative procedures, according to location of their projects.
For further details, please contact:
An Giang Department of Planning and Investment
8/18 Ly Thuong Kiet, My Binh ward, Long Xuyen city, An Giang province
Tel: 076.852913 – Fax: 076.853380
Vietnamese
October 2024
Hanoi