Decision No. 08/2002/QD-TTg amends and supplements certain articles of the Regulation on the Lao Bao Trade Zone to facilitate investment and business activities, including tax incentives, exemption from land rental fees, and other benefits for projects investing in this area.
Đối tượng áp dụng
Organizations and individuals investing in the Lao Bao Trade Zone of Quang Tri Province
Các điểm cốt lõi
- Investors in the Lao Bao Trade Zone enjoy maximum incentives provided for projects in particularly difficult areas according to the Law on Foreign Investment in Vietnam and the Law on Encouraging Domestic Investment.
- Foreign-invested enterprises and foreign parties participating in joint venture contracts are exempt from corporate income tax for 8 years, with a tax rate of 10% applied in subsequent years; domestic organizations and individuals are exempt from tax for 4 years, have their taxes reduced by 50% thereafter, and are subject to a tax rate of 15%.
- Foreign-invested enterprises reinvesting in the Lao Bao Trade Zone for three years or more are entitled to a full refund of corporate income tax paid on reinvested profits.
- Goods and services produced and consumed within the Lao Bao Trade Zone and goods and services imported from abroad into the Lao Bao Trade Zone are exempt from value-added tax; goods and services from the domestic market of Vietnam entering the Lao Bao Trade Zone are subject to a zero percent tax rate; goods and services from the Lao Bao Trade Zone entering the domestic market of Vietnam must be subject to value-added tax.
- Goods of domestic origin and goods imported from abroad into the Lao Bao Trade Zone are exempt from import duties; goods produced, processed, recycled, or assembled at the Lao Bao Trade Zone when exported abroad are exempt from export duties.
🌐 Tác động xã hội từ văn bản này
- Facilitating investment and business activities in the area, attracting investment, and developing local economy.
- Reducing the tax burden on organizations and individuals investing in the Lao Bao Trade Zone, helping to increase the efficiency of invested capital.
- Enhancing trade cooperation between Vietnam and foreign countries through the exemption of import and export duties on goods in the area.
❓ Câu hỏi thường gặp
What incentives do foreign-invested enterprises enjoy?
Exemption from corporate income tax for 8 years, with a tax rate of 10% applied in subsequent years; reinvestment in the Lao Bao Trade Zone for three years or more entitles them to a full refund of corporate income tax paid on reinvested profits.
What incentives do domestic organizations and individuals enjoy?
Exemption from corporate income tax for 4 years; reduction of 50% of the tax thereafter, and application of a tax rate of 15% in subsequent years.
Are goods and services from the domestic market of Vietnam entering the Lao Bao Trade Zone subject to any taxes?
They are exempt from value-added tax and corporate income tax.
Are goods produced, processed, recycled, or assembled at the Lao Bao Trade Zone when exported abroad exempt from export duties?
Yes, they are exempt from export duties.
For how long are enterprises investing in the Lao Bao Trade Zone exempt from land rental fees?
Exempt from land rental fees for the first 11 years from the date of signing the land lease contract, thereafter enjoying a land rental fee equal to 30% of the land rental fee applicable to mountainous districts of Quang Tri Province.
Toàn văn
Pursuant to …;
Regarding the amendment and supplementation of certain provisions of the Regulation on the Lao Bao Trade Zone of Quang Tri Province issued together with Decision No. 219/1998/QĐ-TTg dated November 12, 1998
To create more favorable conditions for investment and business activities in the Lao Bao Trade Zone of Quang Tri Province;
______________________________
PRIME MINISTER
Pursuant to the Government Organization Law dated September 30, 1992;
On the proposal of the Minister of Commerce and the Chairman of the People's Committee of Quang Tri Province,
Amend and supplement certain provisions of the Regulation on the Lao Bao Trade Zone issued together with Decision No. 219/1998/QĐ-TTg dated November 12, 1998 of the Government as follows:
DECISION:
Article 1. 1. Article 19 shall be amended and supplemented as follows:
Organizations and individuals investing in the Lao Bao Trade Zone shall enjoy the maximum incentives provided for projects invested in areas with particularly difficult socio-economic conditions according to the Law on Foreign Investment in Vietnam dated November 12, 1996, the Law Amending and Supplementing Certain Provisions of the Law on Foreign Investment in Vietnam dated June 9, 2000, and the Law Encouraging Domestic Investment (Amended) dated May 20, 1998, and other incentives under international treaties to which Vietnam is a party.
"Article 19.
2. Article 21 shall be amended and supplemented as follows:
1. Projects invested in the Lao Bao Trade Zone by foreign-invested enterprises and foreign parties participating in joint venture contracts shall be exempt from corporate income tax for eight years from the time they begin to generate taxable income, and shall apply a corporate income tax rate of 10% for subsequent years.
Article 21.
2. Projects invested in the Lao Bao Trade Zone by domestic organizations and individuals shall be exempt from corporate income tax for four years from the time they begin to generate taxable income; they shall have their corporate income tax reduced by 50% for the next nine years; and shall apply a corporate income tax rate of 15% for subsequent years.
3. Article 22 shall be amended and supplemented as follows:
"Article 22.
1. Foreign-invested enterprises and foreign parties participating in joint venture contracts that reinvest profits earned within the Lao Bao Trade Zone for three years or longer shall be refunded 100% of the corporate income tax paid on the reinvested profits.
2. The Lao Bao Trade Zone may borrow preferential loans from the State in accordance with Point b Clause 1 Article 2 of Decision No. 53/2001/QĐ-TTg dated April 19, 2001 of the Prime Minister regarding policies for border gate economic zones."
"Article 23.
4. Article 23 shall be amended and supplemented as follows:
Organizations and individuals engaged in production, trade, and services, foreign-invested enterprises, and foreign parties participating in joint venture contracts operating in the Lao Bao Trade Zone, after settling accounts with the tax authority and experiencing losses, may carry forward such losses to the following year, deducting them from taxable income. The period for carrying forward losses shall not exceed five years."
"Article 24.
5. Clause 24 shall be amended and supplemented as follows:
The relationship between goods and services between the Lao Bao Trade Zone and the domestic market is an export-import relationship."
1. Goods and services produced and consumed within the Lao Bao Trade Zone and imported from abroad into the Lao Bao Trade Zone shall not be subject to value-added tax.
6. Article 25 shall be amended and supplemented as follows:
"Article 25.
2. Goods and services from the domestic market of Vietnam entering the Lao Bao Trade Zone shall be subject to a zero percent value-added tax rate; goods and services from the Lao Bao Trade Zone entering the domestic market of Vietnam shall be subject to value-added tax.
3. Goods and services subject to special consumption tax produced and consumed within the Lao Bao Trade Zone and imported from abroad into the Lao Bao Trade Zone shall not be subject to special consumption tax.
4. Goods and services subject to special consumption tax from the Lao Bao Trade Zone entering the domestic market of Vietnam shall be subject to special consumption tax."
7. Article 26 shall be amended and supplemented as follows:
1. Goods of domestic origin and goods imported from abroad into the Lao Bao Trade Zone shall be exempt from import duties.
"Article 26.
2. Goods manufactured, processed, recycled, or assembled at the Lao Bao Trade Zone when exported abroad shall be exempt from export duties."
"Article 27.
8. Article 27 is amended and supplemented as follows:
1. Goods manufactured, processed, recycled, or assembled at the Lao Bao Trade Zone using imported raw materials and components from abroad when imported into the domestic market of Vietnam shall only pay import duties on the portion of imported raw materials and components constituting the product. In cases where imported raw materials and components from abroad are not used when importing into the domestic market of Vietnam, no import duties shall be paid.
2. Goods from the Lao Bao Trade Zone imported into the domestic market of Vietnam with production origins in Laos shall be granted a reduction in import duties according to Decision No. 181/1998/QĐ-TTg dated September 21, 1998 of the Prime Minister or according to agreements between the two governments."
"Article 28.
9. Article 28 is amended and supplemented as follows:
Organizations and individuals with investment projects in the Lao Bao Trade Zone shall be exempt from land rental fees for the first eleven years from the date of signing the land lease contract and shall enjoy a land rental fee equal to 30% of the land rental fee applied to mountainous districts of Quang Tri Province starting from the twelfth year onwards."
10. Article 30 shall be amended and supplemented as follows:
"Article 30.
Based on the actual annual state budget revenue at the Lao Bao Trade Zone, the State shall reinvest to build infrastructure for the Lao Bao Trade Zone according to the following levels:
- In cases where annual state budget revenue is less than 50 billion VND, 100% shall be reinvested.
- In cases where annual state budget revenue is 50 billion VND or more, 50 billion VND and 50% of the remaining actual revenue shall be reinvested."
Ministers, Heads of ministerial-level agencies, Heads of agencies under the Government, and the Chairman of the People's Committee of Quang Tri Province are responsible for implementing this Decision.
Article 2. THIS DECISION SHALL TAKE EFFECT 15 DAYS FROM THE DATE OF SIGNATURE.
Article 3. The Ministers, Heads of ministerial-level agencies, Heads of government agencies, and the Chairman of the People's Committee of Quang Tri Province shall be responsible for implementing this Decision.
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