IP developers await tax incentives for tenants Quoc Hung By Quoc Hung - The Saigon Times Daily HCMC - Companies developing infrastructure for industrial parks (IPs) and IP authorities nationwide expect local and foreign investors setting up shop in IPs will soon be given tax incentives again as State agencies are hinting at such a move. The Ministry of Finance has recently put tax incentives for IP developers as well as tenants into a draft decree of the amended Corporate Income Tax (CIT) Law. In the latest draft version of the amended CIT Law submitted to the National Assembly (NA), the finance ministry has maintained its proposal on supplementing tax incentives for IPs. Such a move is also asserted by Minister of Planning and Investment Bui Quang Vinh, who in a recent meeting with Singaporean investors in HCMC said the Government would re-introduce preferential investment policies for IPs. If the plan is translated into reality, infrastructure developers believe that the … [Read more...] about IP developers await tax incentives for tenants
Incentives
Two more firms receive customs incentives
Two more firms receive customs incentives Chau Giang and Da Ban By Chau Giang and Da Ban - The Saigon Times Daily HCMC – Datalogic Scanning Vietnam Co., Ltd and Samsung Electronics Vietnam Thai Nguyen on Thursday received certificates from the General Customs Department to receive special customs incentives. According to a representative of Datalogic Scanning Vietnam, since being recognized as a priority enterprise on February 12, the firm’s operations and export-import activities are made easier and quicker, thus enhancing its competitiveness. Besides, Vietnam’s customs is modernized with the automated customs system to be applied from April 1, which helps relieve foreign investors of time-consuming administrative procedures when investing in Vietnam, he added. Nguyen Duong Thai, deputy director of the General Department of Customs, said that recognized priority enterprises were those having fully complied with laws and having a modern control process of … [Read more...] about Two more firms receive customs incentives
Tax incentives for suppliers of supporting industries
Tax incentives for suppliers of supporting industries Hung Le By Hung Le - The Saigon Times Daily HCMC – Manufacturers of products for supporting industries will enjoy a corporate income tax of 10% for 15 years like enterprises in the hi-tech sector and investors in localities with socio-economic disadvantages. The Government’s Decree 12/2015/ND-CP clarifies that to enjoy the preferential tax rate, enterprises should have products recognized as items for the hi-tech field as regulated in hi-tech regulations and for apparel, electronics, automobile, and mechanics sectors, and these products had not been manufactured in Vietnam as of January 1 this year. The Government has introduced the tax policy in an effort to attract investments in supporting industries which are still underdeveloped. At a conference held in HCMC in October last year to gather comments on the draft decree on developing supporting industries, Truong Thanh Hoai, deputy head of the Heavy Industry … [Read more...] about Tax incentives for suppliers of supporting industries
Incentives needed for green investment
Incentives needed for green investment By Dinh Dung - The Saigon Times Daily HCMC - Vietnam's monitoring of energy efficiency and carbon foot print is more widespread, but most local companies say tax incentives should be offered to accelerate green investment, according to workspace solutions provider Regus plc's new global survey. Around 46% of companies say they will only invest in low-carbon equipment if the running costs are the same or lower than those of conventional equipment. A disappointing 40% have invested in low-carbon equipment and only 38% have a company policy to do so, according to the Regus. In Vietnam, the survey found that monitoring of energy efficiency and carbon foot-print are much more widespread than elsewhere in the world. Companies monitoring their carbon footprint account for 31% and energy consumption monitoring is 69%. However, 46% have no company policy to invest in energy efficient equipment. The company says that running costs are important to 54% of … [Read more...] about Incentives needed for green investment
Investment incentives for FIEs: money goes to pockets of the rich
VietNamNet Bridge - A total of VND35.3 trillion of corporate income tax has been exempted for foreign-invested enterprises (FIEs), according to the Ministry of Finance. Vietnam offers big investment incentives to foreign investorsThe ministry said that by 2016, the total value of tax incentives and revenue from land use in all economic sectors had reached VND64.278 trillion, or nearly $3 billion.This includes VND46.829 trillion worth of incentives in corporate income tax (CIT), VND394.9 billion in personal income tax, VND7.875 trillion in land and water surface leasing fees and VND3.802 trillion in land use fees.Vietnam wants to attract investment into remote areas, but the number of registered projects in the areas just accounts for 4 percent of total projects. Meanwhile, the investment in Vietnam’s advantageous fields including agriculture, fisheries and forestry is small. Foreign investors mostly pour capital into highly profitable business fields such as manufacturing, … [Read more...] about Investment incentives for FIEs: money goes to pockets of the rich