(Pursuant to the Law on Investment 2014 and Decree No. 118/2015/ND-CP)
1. Forms of incentives:
- A lower rate of corporate income tax for a certain period of time or throughout the life of the project; exemption/reduction of corporate income tax;
- Exemption or reduction of import tax on goods imported as fixed assets; raw materials, supplies, and parts used for the project;
- Exemption, reduction of land rents, land levy.
2. Projects eligible for investment incentives:
- Projects falling into the sectors of investment incentives as listed below. (Decree No. 118/2015);
- Investment projects in certain geographic areas;
- Any project capitalized at least VND 6,000 billion, or at least VND 6,000 billion to be disbursed within 3 years from the date of issuing the certificate of investment registration or decision on investment policies;
- Any investment project in a rural area employing at least 500 workers;
- High-tech companies, science and technology companies, and science and technology organizations.