On 6 October 2021, Vietnam’s government issued Decision No. 29/2021/QD-TTG (Decision 29) on Special Investment Incentives to facilitate more high-tech investments into the country. The decision includes three different incentive scheme levels as follows:
Scheme 1:
- A preferential corporate tax rate of 9% for 30 years, with an initial exemption for 5 years followed by a 50% reduction for 10 years; and
- A land and water surface rent exemption for 18 years, followed by a 55% reduction for the remaining period of the project.
Scheme 2:
- A preferential corporate tax rate of 7% for 33 years, with an initial exemption for 6 years followed by a 50% reduction for 12 years; and
- A land and water surface rent exemption for 20 years, followed by a 65% reduction for the remaining period of the project.
Scheme 3:
- A preferential corporate tax rate of 5% for 37 years, with an initial exemption for 6 years followed by a 50% reduction for 13 years;
- A land and water surface rent exemption for 22 years, followed by a 75% reduction for the remaining period of the project.
