BREAKTHROUGH TAX POLICIES (324) – THE COMPETITIVE ADVANTAGE OF THE INTERNATIONAL FINANCIAL CENTER

Описание: To realize the goal of developing a globally competitive International Financial Center (IFC), the Government has issued Decree 324, establishing a comprehensive framework of outstanding, long-term tax incentives that serve as a legal springboard to attract capital and talent. Specifically, regarding corporate income tax (CIT), prioritized sectors enjoy a 10% tax rate for 30 years, a tax exemption of up to 4 years, and a 50% tax reduction for up to the following 9 years; meanwhile, other sectors are entitled to an incentive tax rate of 15% for 15 years, along with an attractive exemption and reduction schedule. Concurrently, to attract elite global human resources, managers, experts, and highly qualified personnel working at the IFC will be fully exempt from personal income tax (PIT) until the end of 2030. Furthermore, enterprises are exempt from import duties on machinery, equipment, and raw materials used to create fixed assets, thereby optimizing initial investment costs and accelerating project implementation