Circular No. 83/2016/TT-BTC issued by the Ministry of Finance on June 17, 2016 guiding the implementation of the investment incentive programs under the provisions of the Law on Investment and the Decree No. 118/2015/ND- CP dated November 12, 2015 specifying and guiding the implementation of several articles of the Law on Investment.
Accordingly, Investment projects belonging to the approved list of sectors or professions qualifying for investment incentives referred to in Section A, Appendix I, or developed in areas faced with special economic – social difficulty shall be entitled to import duty incentives and exempt import tax within 05 years for raw materials or components which must be imported.
Investment projects located within rural areas that hire at least 500 employees (excluding those who are not working full time and those who sign under-12-month employment contracts) shall be entitled to import tax incentives which are the same as those applied to investment projects located within areas faced with economic – social difficulty; investment projects hiring at least 500 employees, and located within rural and non-rural areas shall, subject to the number of employees working at each project site or work section in rural areas (exclusive of the number of employees at the project site or section located within non- rural areas, be granted respective import tax incentives.
In particular, import tax incentives referred to in this Article shall not be granted to investment projects such as mineral production, production and trading of goods or services subject to the special consumption tax, except motor vehicle production.
This Circular takes effect on August 01, 2016.
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