Subjects and conditions of investment preferences in Vietnam
Tax preferences in Vietnam
Land use preferences in vietnam
1. The land use term of an investment project shall not exceed 50 years; for projects with large investment capital but low speed of capital recovery, projects of investment in areas facing difficult or extremely difficult socio-economic conditions, which need longer land-use term, the land-assignment or lease term shall not exceed 70 years.
Upon the expiration of the land use term, if investors strictly observe the land law and wish to continue using the land, they shall be considered by competent state agencies for extension of such term in accordance with the approved land-use planning.
2. Investors making investment in the domains or geographical areas eligible for investment preferences shall enjoy reduction or exemption of land rents, land use levies or land use taxes in accordance with the provisions of land law and tax law.
Based on socio-economic development conditions in each period and the principles specified in this Law, the Government shall provide preferences for investors investing in industrial parks, export processing zones, hi-tech parks or economic zones.
Procedures for application of investment preferences in vietnam
1. For domestic investment projects not subject to investment registration and those subject to investment registration under the provisions of Article 45 of this Law, investors shall base themselves on investment preferences and conditions therefore provided by law to determine by themselves investment preferences they are entitled to and shall carry out procedures at competent state agencies to enjoy such preferences.
Where investors request the certification of investment preferences, they shall fill in investment registration procedures so that competent state management agencies in charge of investment shall write such preferences in their investment certificates.
2. For domestic investment projects subject to investment verification according to the provisions of Article 47 of this Law that meet the conditions to enjoy preferences, the state management agencies in charge of investment shall write investment preferences in their investment certificates.
3. For foreign investment projects meeting the conditions to enjoy preferences, the state management agencies in charge of investment shall write investment preferences in their investment certificates.
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