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Provincial investment incentive policies

Đăng ngày 23 - 02 - 2018

ThanhHoa province applies investment incentive policies on the principle that investors can have the highest incentives in terms of rights and lowest obligations in the regulatory framework. In addition to the general provisions of the current law, depending on the size and nature of each project, on the basis of consideration of the proposal of investors, the province will have special support for large projects. which play an important role in promoting the process of economic restructuring and creating a breakthrough in the socio-economic development of the province. Some specific provisions are as follows:

2.1 Investment incentive policies in ThanhHoa province (outside Nghi Son Economic Zone and Industrial Zones)

1. Governmental policies

1.1. Land and water surface rent incentives (according to Government Decree No. 46/2014 / ND-CP dated 15/5/2015)

- Exemption from land rent or water surface rent for projects in the domains eligible for special investment incentives invested in extremely difficult socio-economic regions; The projects use land to build houses for workers in industrial zones.

- Land rents and water surface rents shall be exempt during the time of capital construction under projects approved by competent authorities, which, however, must not exceed 3 years as from the date of issuance of decisions on land or water surface rent.

 

- Exemption from 3 years to 15 years (after the time of exempting land rent, water surface rent for capital construction) for each type of projects in different preferential areas.

1.2. Enterprise income tax incentives (as stipulated in Decree No. 218/2013 / ND-CP dated 26/12/2013 by the Government)

Newly-established enterprises from investment projects, depending on the fields and geographical areas entitled to investment incentives enjoy a preferential tax rate of between 10% and 17%, applicable for 10 years, 15 years or throughout the operation duration. At the same time, tax exemption from 2-4 years and 50% reduction of tax in the next 4 - 9 years.

1.3. Import tax and export tax incentives (according to the Government's Decree No. 134/2016 / NĐ-CP dated 01/9/2016)

Investors are exempt from tax in the following cases:

- Goods imported for processing, processed products for export; Goods exported for processing, processed products for import.

- Goods imported for the production of export products; Goods imported to create fixed assets of the subjects entitled to investment incentives.

- Goods imported for petroleum activities; Projects, shipbuilding establishments on the list of industries eligible for investment incentives.

- Raw materials, supplies and components which cannot be produced at home and are imported for production under investment projects on the list of specially encouraged industries or trades or areas with specially difficult socio-economic conditions; production and assembly of medical equipment of the investment project (exemption within 05 years).

1.4. Incentive treatment for investment projects in agriculture and rural areas (as stipulated in Decree No. 210/2013 / ND-CP dated 19/12/2013 by the Government).

- Exemption from land use fees and land rent for agricultural projects eligible for special investment incentives.

- 70% reduction of land use fees; Free of land rent or water surface rent for the first 15 years for agricultural projects eligible for investment incentives.

- 50% reduction of land use fees; Exemption from land rent or water surface rent for the first 11 years for agricultural projects encouraging investment.

- To be rented at the lowest price according to the land rent frame prescribed by the provincial People's Committee for incentive agricultural investment projects or encouraged agricultural investment projects.

1.5. Incentive policies for socialization activities in the fields of education, vocational training, health, culture, sports, environment, judicial expertise (as stipulated in Decree 69 Decree No. 59/2014 / ND-CP dated 16/6/2014 of the Government about amending and supplementing some articles of the Decree No. 69 / 2008 / ND-CP dated 30/5/2008)

- Establishments conducting socialization activities are allocated or leased land by the government for construction of socialization works in the form of land lease and land rent exemption in the rental period.

- The socialization establishments earning incomes from social mobilization shall enjoy the enterprise income tax rate of 10% throughout the operation duration.

- Newly established socialization establishments shall be exempted from corporate income tax for 4 years after the taxable income is generated and a 50% reduction of enterprise income tax for 5 subsequent years.

2. Policy of Thanh Hoa province

2.1. Policy on encouraging socialization of activities in the fields of education, vocational training, health care, culture, sport and environment in the province (according to Decision No. 4294/2011 / QD-UBND)

a) For culture, sports and environment: 100% land use or land rent exemption.

b) For education, vocational training and health:

- The establishments conducting socialization investment in the fields of Eastern medicine, nursing and rehabilitation, social protection, care for the disabled, orphans, vocational training for the disabled, teaching Children in particularly difficult circumstances: 100% land use, land rent exemption regardless of the investment area.

- The establishments conducting socialization investment in the fields of other education, vocational training, health care:

+ 60% reduction of land use fee, land rent for investment projects in wards of ThanhHoa city.

+ 80% reduction of land use fee, land rent for investment projects in communes of ThanhHoa city, wards of Bim Son town and Sam Son city.

+ To be exempt from land use fee and land rent for investment projects in Nghi Son economic zone, other communes and towns of Sam Son city, Bim Son town and districts of ThanhHoa province.

c) Other policies shall comply with the Government's Decree No. 69/2008 / ND-CP of May 30, 2008, on socialization policies in the fields of education, vocational training, health care, culture, sports, and environment.

2.2. Policy on encouraging the development of industry, small industry and commerce in ThanhHoa province (Resolution No. 29/2016 / NQ-HDND dated 08/12/2016 of the Provincial People's Council and Decision No.832 / 2017 / QD-UBND dated March 21, 2017 of Provincial People's Committee)

- Support for investment in the construction of industrial complex infrastructure: VND7-2.3bil / ha, depending on the area (maximum VND20 - 40bil / cluster).

- Support investment projects in industrial production, small industry in mountainous districts:

+ Support ground leveling, infrastructure for traffic, electricity, water, workshops and waste treatment: 01 - 02 billion VND / ha depending on the location.

+ Support for labor training costs: 0.7-1.5 million VND / person depending on the location and employer.

- Support for development of cottage industry: VND 300 million / craft village.- Support for land rental for market investment: 30

- 100% of land rent for the whole duration of land lease for the projects of exploiting the market, depending on the location.

2.3. Policy on support for solid waste treatment in ThanhHoa province, 2016-2021 (Resolution No. 28/2016 / NQ-HDND dated 08/12/2016 of the Provincial People's Council and Decision No. 721/2017 / QD-UBND dated March 9, 2017)

- Assistance for daily-life solid waste: VND 320,000 / ton, including:

+ Solid waste treatment project at Dong Nam commune, Dong Son district (capacity of 500 tons / day and night) with mixed technology.

+ Projects on daily-life solid waste treatment in four key treatment zones of the province under planning (with a capacity of 200 tons / day and night) by burning technology.

+ Solid waste treatment projects at other locations in the province (capacity of over 100 tons / day and night) by burning technology.

- All financial support for the construction of infrastructure works outside the project (roads, water supply and drainage systems, and electricity systems) shall be supported for these aforementioned projects.

2.4. Policy on encouraging the restructure of Thanh Hoa's agricultural sector between 2016-2020 (stipulated in the Decision No. 5643/2015/QĐ-UBND dated 31/12/2015 by the People's Committee of Thanh Hoa province)

- Support for the development of concentrated safe vegetable production:

+ For concentrated safe vegetable production: a one-time allowance of 170 million VND/ha for delta and coastal areas and 200 million VND/ha for mountainous areas for constructing and upgradingthe infrastructure of the concentrated area, the factory of preliminary treatment and safe vegetable product packing plants to meet VietGAP technical requirements; financial support for VietGAP certification of safe vegetables with 7 million VND / ha; support for quality control and stamping with 16 million VND/ha per year for the delta and coastal areas and 18 million VND/ hectare for mountainous areas.

+ For safe vegetable production in green house: One-time support for investment, construction of green house for vegetable production is 50,000 VND / m2.

+ For consumption of safe vegetable products: support for the cost of renting or building new safe vegetable shops with the capacity of 50 million VND / shops located in wards of provincial towns and cities and 30 million VND / store in other communes and towns.

- Support to buy sugarcane harvesting machines and irrigation cane fields:

+ Financial support for sugarcane harvesting machines: The scale of production of each 50 ha will be supported to buy 01 sugarcane machines (new machines) with the capacity of 120 tons / day or more, with the support level of 20% of its purchase price on the sales invoice as prescribed, but not exceeding 1,500 million VND / machine.

+ Support for construction of irrigation system on the field: One – time support for the construction of irrigation system based on the regulations, with the support level of 15 million VND / ha.

+ Support for the development of intensive cultivation zone of dendrocalamus: support for fertilizer in the first and second years to implement intensive cultivation of dendrocalamus with the support level of 2 million VND / ha / year.

- Support for large-scale concentrated production: Financial support for land rent and water surface rent of households and individuals for 5 years after the project comes into operation, including: 3 million VND / ha / year for rice prodcution, specialty rice, maize, sugar cane, thick corn, fodder grass and fruit trees (oranges, pomelo); 4 million VND / ha / year for water surface rent for intensive tilapia farming in association with  the processing for export; support for water surface rent with 6 million VND / ha / year for intensive white shrimp farming.

- Support forjoint production and crop cultivation: support for the production of potatoes, tomatoes, pumpkins, onions, garlic, vegetables with 5 million / ha of cultivation per year; support to produce sweet corn, baby corn, baby melon, export melon, chilli for export with 3 million VND / ha of cultivation year; support for the production of thick maize and grass for dairy cattle, beef cattle with 2 million per ha of cultivation per year; support 1.5 million VND / ha of cultivation per year to pre-processing, the preservation of  agricultural products, markets expansion.

Support for site clearance: The People's Committee of Thanh Hoa province shall allocate 100% of the budget to compensate the site clearance and hand over the clean ground to the enterprises for the construction of agricultural and forest product processing establishments. Concentrated slaughterhouses and hatcheries of white leg shrimps and unisex tilapia in the province as regulated (no support for nursery and nursery grounds).

2.2 Incentive policies to support investment in industrial zones in the province

In addition to the incentive investment policies applicable to all investment projects in the province mentioned above, investment projects in industrial zones in ThanhHoa province are entitled to the highest investment incentives and supports, according to regulations for areas with difficult socio-economic conditions under Clause 2, Article 16 of the Investment Law 2014.

1. Government incentives

1.1. Land and water surface rent incentives (Not applicable to industrial zones in ThanhHoa city and subleasing projects of infrastructure investors)

- Exemption from land rent or water surface rent during the capital construction period but not exceeding 3 years; Exemption from 7 - 15 years from the date the project comes into operation depending on the field of project industry.

- Exemption of land rent and water surface rent throughout the duration of project implementation for projects in a number of domains according to the Government's regulations.

1.2. Corporate income tax incentives, export tax and import tax

Depending on the industry and field, investment projects in industrial zones in ThanhHoa province are entitled to investment incentives in accordance with the legal documents about corporate income tax and export tax and import tax.

2. Policy of ThanhHoa Province

Policy on encouraging investment consultancy services in industrial zones of ThanhHoa province (according to Decision No. 3667/2013 / QĐ-UBND dated 18/10/2013 by ThanhHoa People's Committee on the policies to encourage and support investment in Nghi Son EZ and industrial parks in ThanhHoa province): Organizations and individuals who can mobilize investment projects in the list of encouraged investment fields in industrial zones in ThanhHoa province shall be rewarded according to the investment capital scale of the project, at 500 million VND as maximum.

 

2.3  Incentive policies, supporting investment in Nghi Son Economic Zone

Apart from the preferential investment policies applicable to all investment projects in the above mentioned province, the investment projects in Nghi Son EZ shall also enjoy a number of preferential policies and special investment supports, specifically as follows:

Nghi Son EZ is entitled to the highest incentives and investment support for areas with specially difficult socio-economic conditions under Clause 2, Article 16 of the Investment Law 2014.

1. Government policies

1.1. Incentives on land rent, water surface rent

        - Exemption from land rent, water surface rent during construction time; Exemption from 11 years to 15 years from the date the project comes into operation depending on the field of the project.

- Exemption of land rent and water surface rent throughout the duration of project implementation for projects in the field of special investment incentives - as stipulated by the Government.

1.2. Corporate income tax incentives

- The enterprise income tax rate is applied 10% for 15 years after the investment project starts its business; To be exempt from corporate income tax for four years from the time the taxable income is generated and a 50% reduction of the payable tax for the next nine years.

- Projects in the field of high technology; For projects of large scale and significant importance for the development of branches and domains or the socio-economic development of the province and its regions, the preferential tax rates may be extended for up to 30 years. .

1.3. Preferential import tax, export tax

 - Exemption of import tax on goods for creation of fixed assets and specialized means of transportation included in technological lines in service of investment projects, means of transporting workers, etc.

- Exemption of import tax for a period of 5 years from the date the project goes into production for production raw materials, supplies, components and semi-finished products that Vietnam has not yet produced or under standard quality.

1.4. Personal income tax incentives

50% reduction of income tax on income earners, including Vietnamese and foreigners working in the economic zone.

2. The policies of ThanhHoa province

2.1. Policy on encouraging investment consultancy services in Nghi Son Economic Zone. (Decision No. 3667/2013 / QD-UBND dated 18/10/2013 of ThanhHoa PPC on promulgation of incentive and support policies Invest in Nghi Son EZ and industrial zones in ThanhHoa province).

Organizations and individuals who have made meritorious contributions to the mobilization of investment projects on the list of those encouraged for investment in Nghi Son EZ shall be rewarded as mobilizing investment in industrial parks in ThanhHoa province.

2.2. Support policy for enterprises with investment projects in industrial parks of Nghi Son EZ No. 3, 4 and 5. (Decision No. 3667/2013 / QD-UBND dated 18/10/2013 of ThanhHoa PPC on promulgation of incentive and support policies Invest in Nghi Son EZ and industrial zones in ThanhHoa province).

Provincial budget supports 10% of leveling costs for enterprises having investment projects in industrial parks of Nghi Son EZ No. 3, 4 and 5 on the basis of finalization dossiers approved by the Nghi Son EZ Management Board, the maximum support level does not exceed 500 million VND / ha.

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