Introduction of tax incentives for large investments
28 Mar 2021
On 28 March 2021, the Law no. 1293-IX entered into force to supplement the previously enacted Law On State Support for Investment Projects with Significant Investments. The new legislation provides investors implementing large investments (investment projects with significant investments) under special investment agreements with certain tax incentives available until 1 January 2035. They may include:
1) exemption from VAT and import duties on equipment and spare parts import;
2) exceptions from corporate income tax for 5 years;
3) land tax breaks adopted by local governments.
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Type:
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Promotion and facilitation (Investment incentives)
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Industry:
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