According to the Ministry of Finance’s opinions, with regard to enterprises that execute projects (new investment or expansion) on manufacture, assembly of fire prevention and fighting means, if they meet the conditions in terms of sectors eligible for tax incentives or execute the projects in geographical areas with socio-economic difficulties or extreme socio-economic difficulties, they shall be entitled to incentives of enterprise income tax and land levy under current regulations.
In addition, goods items which are fire prevention and fighting means, fire fighting vehicles shall be also entitled to import duty incentives with the low duty rate of 3% (HS code 8705.30.00), 5% (garments used for protection from fire, HS code 6113.00.30).
If investors of projects on manufacture, assembly of fire prevention and fighting means are individuals, they shall be entitled to the policy on exemption from value added tax and personal income if the revenue they earn does not exceed VND 100 million per year.
|Published||Vietlaw's Newsletter No. 410|