According to the draft, a preferential tax rate of 10% for 15 years is applied to income from a number of new investment projects in preferential industries and sectors or in areas with difficult or especially difficult socio -economic conditions, including high-tech zones, high-tech agricultural zones, concentrated digital technology zones and economic zones in tax incentive areas.
The 10% tax rate also applies indefinitely to a number of cases such as enterprises operating in preferential industries in tax-incentive areas; publishers, cooperatives, and cooperative unions as prescribed; and press agencies performing tasks in preferential industries.
The draft stipulates a tax rate of 15% applicable to income from activities in certain industries, but not in tax incentive areas.
For new investment projects in priority sectors, implemented in economic zones or areas with difficult socio-economic conditions (not in areas with special incentives), the preferential tax rate of 17% is applied for 10 years. Some other activities enjoy a tax rate of 17% without time limit.
Notably, the draft also allows the Prime Minister to consider extending the maximum preferential tax rate application period to no more than 15 years for large-scale investment projects that have important impacts on socio-economic development.
Specifically, these include projects: new investment with capital of VND 6,000 billion or more; production of globally competitive products with revenue of VND 20,000 billion/year for 5 consecutive years; regular employment of 6,000 or more workers; or investment in essential economic and technical infrastructure.
For special projects in the high-tech sector, the Government may decide to apply incentives by reducing the tax rate by up to 50% compared to the normal rate, with the incentive period not exceeding 1.5 times the initial incentive period and may be extended, but the total period shall not exceed the project duration.
The draft stipulates that the preferential tax rate will begin to be calculated from the first year the enterprise has revenue from a new investment project. In case the enterprise is granted a certificate of high technology, high-tech agriculture, science and technology or support industry incentives after generating revenue, the preferential period will be recalculated from the year the certificate is granted.
Along with preferential tax rates, the draft decree guiding the implementation of the Law on Corporate Income Tax also provides detailed regulations on corporate income tax exemption and reduction to encourage new investment, expand production and develop priority industries and sectors.
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Source: https://www.sggp.org.vn/de-xuat-giam-50-thue-cho-cac-du-an-cong-nghe-cao-dac-biet-post806116.html
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