Decision No. 358/TTg stipulates tax preferences for marine fishing activities in offshore waters, applicable to Vietnamese organizations and individuals. Notably, it reduces resource taxes and business income taxes by 50% in the first three years, exempts corporate income tax in the first three years, and charges a registration fee of 1% of the vessel's value when applying for exploitation permits.
适用范围
Vietnamese organizations and individuals from all economic sectors, including foreign-invested enterprises participating in joint venture contracts under the Law on Foreign Investment in Vietnam, may participate.
要点
- Organizations and individuals engaged in marine fishing in offshore waters will enjoy a 50% reduction in resource taxes and business income taxes in the first three years, and exemption from corporate income tax in the first three years.
- The registration fee for obtaining exploitation permits is 1% of the vessel's value.
- Organizations and individuals must register and obtain exploitation permits for marine fishing in offshore waters.
- State management agencies for fisheries, taxation, and border guards shall cooperate to strictly monitor and inspect fishing vessels.
- This Decision replaces Decision No. 400/TTg dated August 7, 1993.
🌐 本文件的社会影响
- Positive impact: Encourages investment in the marine fishing industry, increasing the supply of seafood.
- Negative impact: May impose a burden on the state budget due to reduced tax revenues.
- Organizations and individuals participating in marine fishing activities in offshore waters will benefit from tax preferences.
❓ 常见问题
Which organizations and individuals are eligible for preferential treatment?
Vietnamese organizations and individuals from all economic sectors, including foreign-invested enterprises participating in joint venture contracts under the Law on Foreign Investment in Vietnam.
What tax preferences are included?
A 50% reduction in resource taxes and business income taxes in the first three years, and exemption from corporate income tax in the first three years.
What is the registration fee for obtaining exploitation permits?
1% of the vessel's value.
How long does the tax preference last?
Three years from the date of issuance of the exploitation permit for marine fishing in offshore waters.
Which agency is responsible for implementing this Decision?
Ministers of Ministries, Heads of ministerial-level agencies and government-affiliated agencies, Chairmen of People's Committees of provinces and centrally-administered cities.
全文
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PRIME MINISTER |
SOCIALIST REPUBLIC OF VIETNAM |
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Number: 358-TTg |
Hanoi, May 29, 1997 |
Pursuant to …;
Regarding incentives for marine fishing activities in distant waters
PRIME MINISTER
Pursuant to the Government Organization Law dated September 30, 1992;
Pursuant to current tax laws and decrees; the Law on Encouraging Domestic Investment;
To encourage marine fishing activities in distant waters;
At the proposal of the Minister of Finance,
DECISION:
Article 1. Organizations and individuals of all economic sectors in Vietnam, including foreign-invested enterprises, parties involved in joint business contracts under the Law on Foreign Investment in Vietnam, which operate fishing vessels in distant waters, shall enjoy the following tax incentives:
1. They shall be granted a 50% reduction in resource taxes and business income taxes for the first three years from the date of issuance of the permit for marine fishing in distant waters, and exemption from corporate income tax for the first three years from the date of taxable profit. In addition to the aforementioned tax incentives, entities subject to the Law on Encouraging Domestic Investment shall also benefit from import tax, business income tax, and corporate income tax incentives as stipulated in that Law.
2. When registering and obtaining permits for marine fishing in distant waters, organizations and individuals owning fishing vessels shall pay a stamp duty of 1% (one percent) based on the value of the assets at the time of registration.
All other taxes and fees not specified in Clauses 1 and 2 of this Article must be implemented according to current laws.
Article 2. Organizations and individuals benefiting from tax and stamp duty incentives as provided in this Decision shall have the responsibility to:
1. Register and obtain permits for marine fishing in distant waters from the competent state management agencies for fisheries;
2. Declare and register for tax payment with the local tax authority where their headquarters are located. If they are permitted to fish and move to distant waters outside their headquarters' location, they must also register with the local tax authority where they will conduct fishing operations.
Article 3.
1. The Ministry of Finance, the Ministry of Fisheries, and the Ministry of National Defense shall direct subordinate agencies (tax, fisheries, border guard forces) to cooperate in strictly monitoring fishing vessels operating in distant waters to ensure that incentives are correctly applied, prevent abuse, corruption, and undue harassment of entities entitled to incentives under this Decision;
2. The Ministry of Finance shall coordinate with the Ministry of Fisheries to provide guidance on implementing this Decision.
Article 4. This Decision takes effect from the date of signature and replaces Decision No. 400/TTg dated August 7, 1993, of the Government Chairman regarding the collection of taxes on the exploitation and export of marine products in the Spratly Islands.
Organizations and individuals currently enjoying tax incentive policies under Decision No. 400/TTg dated August 7, 1993, of the Government Chairman shall continue to implement such policies until the end of the period specified in this Decision.
Article 5. Ministers of Ministries, Heads of ministerial-level agencies and agencies under the Government, Chairmen of People's Committees of provinces and centrally governed cities are responsible for enforcing this Decision./.
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DEPUTY PRIME MINISTER DEPUTY PRIME MINISTER |
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