On November 26, 2013, the Prime Minister promulgated Decision No. 72/2013/QD-TTg, prescribing mechanisms and financial policies applicable to border-gate economic zones, which regulates that Vietnamese and foreigners directly working or involved in production and business activities in border-gate economic zones, having incomes from their jobs and production and business activities in border-gate economic zones and being liable to personal income tax under the Personal Income Tax Law are eligible for 50% reduction of payable tax amounts
Also in this Decision, investors who wish to use land in border-gate economic zones as production and business grounds and choose the form of land allocation with land use levy payment, will be allocated land by the State and pay land use levy; enjoy land use levy exemption and/or reduction for projects under preferential policies; they will enjoy reduction of 50% of payable land use levy for projects in the under preferential policies; they will enjoy reduction of 50% of payable land use levy for projects in the sectors eligible for investment incentives and 30 % of payable land use levy for the rest investment projects.
The provincial-level People’s Committees of localities has responsibility to use land use levy and land rent payment in border-gate economic zones in order to invest in the development of technical and social infrastructure systems of border-gate economic zones or make the capital resources for the ground clearance of the investors according to the laws on investment and state budget and other relevant laws.
This Decision takes effect on January 15, 2014.
To download this Decision, please click this link: 54930_72-2013-QD-TTg
Source: www.luatvietnam.vn
