Deputy Prime Minister Pham Binh Minh has signed, on behalf of the Prime Minister, Decision No. 29/2021/QD-TTg on the level, time, and conditions for applying special investment incentives to investment projects.

During the period of enjoyment of special investment incentives, any economic organization that satisfies the conditions for actual incentives shall enjoy such incentives for the remaining incentive period.

The remaining incentive application period is determined by the incentive period according to the actual incentive conditions minus the corresponding number of years of corporate income tax exemption and reduction, the number of years of applying the preferential enterprise's income tax rate, and the number of years of land rent exemption and reduction, which were previously applied.

A preferential tax rate of 9 per cent for a period of 30 years will apply to the revenue of economic organizations from the implementation of investment projects that fall into the categories specified at Point b, Clause 2, Article 20 of the Law on Investment. A preferential tax rate of 7 per cent for a period of 33 years will apply to revenue from newly-established investment projects.

A preferential tax rate of 5 per cent for a period of 37 years will apply to revenue from the activities of subjects or investment projects under the National Innovation Center established under the Prime Minister’s decision and investment projects in the subjects specified at Point b, Clause 2, Article 20 of the Law on Investment.