DMS Law firm in Vietnam advises about tax incentives to promote development and application of information technology in Vietnam with the following contents:
To improve competitiveness for IT companies, to enhance investment attractiveness for IT development in the condition of more deeply and widely international integration, Resolution No. 41/NĐ-CP dated May 26, 2016 by the Vietnam Government determined solutions for tax incentives, to foster further the application and development of IT in Vietnam
The Resolution has assessed and identified solutions about tax incentive policies under the VietnamNational Assembly and the Government powers. Of those solutions, there was a remarkable content of “ reducing 50 percent (%) of personal income tax (PIT) on employment income for individuals worked in IT field, who have qualification and skill to meet the requirement of activities in research, development, application of high-tech in IT field; hight-tech services in IT field; operating of equipment, manufacturing lines to manufacture high-tech products in IT field, security management of information system”.
The Vietnam Government also assigns the task of chairing and co-ordinating to deploy implementation of the detailed content of the Resolution to the relevant Ministries. In which, the Ministry of Finance is responsible to chair, co-ordinate with the Ministry of Justice, the Ministry of Information and Communications and relevant Ministries to submit to the Government for reporting to the National Assembly regarding the amendment, supplement the Law on Enterprise Income Tax (EIT, also known Corporate Income Tax - CIT), Law on Personal Income Tax (PIT) to implement the solutions mentioned in Section II of this Resolution at an appropriate point of time./.
Lawyer in Vietnam advises about tax incentives
|DMS Law firm in Vietnam|
Lawyer Do Minh Son
DMS Lawyers in Vietnam advise on value added tax (VAT) for foreign companies in Vietnam
Law office in Vietnam advises about value added tax (VAT) for foreign companies in Vietnam