On the morning of June 27, with 438/447 delegates participating in the vote, the National Assembly passed the Resolution on the International Financial Center in Vietnam.
The Resolution clearly states that the International Financial Center is an area with defined geographical boundaries established by the Government located in Ho Chi Minh City and Da Nang City, focusing on a diverse ecosystem of financial services and support services.
Voting results to pass the Resolution. (Photo: DUY LINH)
The international financial center is built on the basis of unified operations, management and supervision; has a separate product development orientation, promotes the strengths of each city; ensures fairness and mutual support, aiming to become a leading international financial center, raising Vietnam's position in the global financial network, associated with economic growth momentum.
At the same time, promote sustainable finance, encourage the development of green financial products and mobilize resources for energy and green transformation projects, contributing to sustainable socio-economic development; attract and develop high-quality human resources, domestic and foreign financial experts; create a favorable working and living environment for international experts and businessmen at the International Financial Center.
The National Assembly's Resolution stipulates a series of specific policies applicable to the International Financial Center in Vietnam, including policies on foreign exchange, banking activities; finance, capital market development; taxes; fees, charges; policies for strategic investors...
Regarding tax policy, income of enterprises from implementing new investment projects arising in the area of the International Financial Center in priority industries and professions for development in the International Financial Center is subject to a corporate income tax rate of 10% for 30 years, corporate income tax exemption for a maximum of 4 years and a 50% reduction in tax payable for a maximum of 9 subsequent years.
Minister of Finance Nguyen Van Thang presented a report explaining, accepting and revising the draft Resolution before the National Assembly voted to approve it. (Photo: DUY LINH)
Enterprise income from implementing new investment projects arising in the area of the International Financial Center that are not in priority industries or professions for development in the International Financial Center is subject to a corporate income tax rate of 15% for a period of 15 years, tax exemption for a maximum of 2 years and a 50% reduction in tax payable for a maximum of 4 subsequent years.
Managers, experts, scientists, and highly qualified people working at the International Financial Center, including Vietnamese and foreigners, are exempt from personal income tax on income from salaries and wages earned from performing work at the International Financial Center until the end of 2030.
Regarding visa and residence policies for experts, managers, and investors, the National Assembly approved the issuance of visas and temporary residence cards for up to 10 years to foreigners who are important investors, experts, managers, and highly qualified workers working for agencies and organizations headquartered in the International Financial Center (visa and temporary residence card code is UD1) and accompanying family members (visa and temporary residence card code is UD2).
The National Assembly's Resolution on the International Financial Center in Vietnam takes effect from September 1, 2025. The National Assembly assigns the Government to review and report to the National Assembly on the implementation of the Resolution after 5 years of implementation. No later than March 30, 2034, the Government shall report to the National Assembly on the results of the implementation of the Resolution and propose the promulgation of the Law on Financial Centers.
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Source: https://nhandan.vn/quoc-hoi-thong-qua-loat-chinh-sach-dac-thu-ap-dung-trong-trung-tam-tai-chinh-quoc-te-tai-viet-nam-post889920.html
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