4-year CIT exemption granted to new projects at Da Nang Hi-Tech Park

This is the noticeable content of the Decree No. 04/2018/ND-CP on incentive regulations and policies for Da Nang Hi-Tech Park.
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Thanh Trúc
Thanh Trúc

This Decision prescribes that any enterprise developing new projects at Da Nang Hi-Tech Park will have access to CIT incentives, specifically including:

- Tax exemption for the first 4 years;

- 50% tax reduction for 9 consecutive years;

- 10% tax rate for 15 years with respect to projects in which investment is less than VND 3,000 billion; for 30 years with respect to projects in which investment is VND 3,000 billion or more.

10% tax rate will be applied to any enterprise that develops social housing projects for commercial, lease or hire-purchase purposes intended for employees at Da Nang Hi-Tech Park.

Additionally, enterprises operating at Da Nang Hi-Tech Park will be entitled to other preferential treatment such as:

- Exemption of all land rents during the lease term for certain permissible investment projects. 

- Import duty exemption for goods used for creating fixed assets such as machinery, equipment, components, etc.

The Decree No. 04/2018/ND-CP is set to commence on February 20, 2018.

>> CLICK HERE TO READ THE ARTICLE IN VIETNAMESE

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