Supports and incentives for special investment.
Please share us about in which cases enterprises are and are not entitled to special investment incentives and support?
CPA would like to answer questions as follows:
Pursuant to Article 20 of Law on Investment 2020, Special investment incentives and assistance are prescribed as follows:
Article 20. Special investment incentives and assistance
1. The Government shall decide to apply special investment incentives and assistance with a view to encouraging the development of some investment projects that exert significant socio-economic effects.
2. Entities eligible for special investment incentives and assistance specified in Clause 1 of this Article include:
- a) Projects on establishment (including the expansion of such establishment project) of innovation centers and research and development centers with a total investment capital of at least VND 3,000 and disbursing at least VND 1,000 billion within 03 years from the issuance date of the investment registration certificate or the approval for investment guidelines; the National Innovation Center established under the Prime Minister's decision;
- b) Investment projects in the business line eligible special investment incentives with an investment capital of at least VND 30,000 billion and disbursing at least VND 10,000 billion within 03 years from the issuance date of the investment registration certificate or the approval for investment guidelines.
3. Levels of incentives and time limit for application of special incentives are prescribed by the Law on Corporate Income Tax and the Law on Land.
4. Forms of special investment assistance are the same as those mentioned in Clause 1 Article 18 of this Law.
5. Special investment incentives and assistance set out in this Article do not apply to:
- a) any investment project that has been granted the investment certificate, the investment registration certificate or the decision on investment guidelines before the effective date of this Law;
- b) the investment projects mentioned in Clause 5 Article 15 of this Law.
6. The Government shall request the National Assembly to decide to apply investment incentives other than those specified in this Law and other laws if it is necessary to encourage the development of a project of special importance or a special administrative - economic unit.
7. The Government shall elaborate this Article.
Investment Promotion Department – CPA