The Prime Minister’s authority to issue decisions on investment policies

The Prime Minister’s authority to issue decisions on investment policies Except for the projects subject to issuance of decisions on investment policies by the Prime Minister according to regulations of law on public investment and the projects mentioned in Article 30 of this Law, the Prime Minister shall issue decisions on investment policies of the following projects: 1. The following projects regardless of capital sources: a) Projects that require relocation of 10,000 people or more in highlands; 20,000 people or more in [...]

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Investment under PPP contracts

Investment under PPP contracts 1. Investors and project management companies shall sign PPP contracts with competent authorities to execute an investment project to build new infrastructural works, to improve, upgrade, expand, manage, and operate infrastructural works, or to provide public services. 2. The Government shall specify the fields, conditions, and procedures for executing investment projects under PPP contracts. Article 28. Investment under business cooperation contracts 1. Business cooperation contracts signed between Vietnamese inventors are executed in accordance with civil laws. 2. Procedures for issuance [...]

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Investments made by foreign-invested business organizations

Investments made by foreign-invested business organizations 1. When establishing business organizations, contributing capital, buying shares or capital contributions of business organizations; making investments under business cooperation contracts in one of the following cases, the foreign investor must satisfy the conditions and follow investment procedures applied to foreign investors: a) 51% of charter capital or more is held by foreign investors, or the majority of the general partners are foreigners if the business organization is a partnership; b) 51% of charter capital or [...]

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Forms of investment support

Forms of investment support 1. Forms of investment support: a) Support for development of technical infrastructure, social infrastructure, and beyond the perimeter of the project; b) Support for training and development of human resources; c) Credit support; d) Support for access to business premises; support for relocation of manufacturing facilities from urban areas; dd) Support for scientific & technological research, technology transfers; e) Support for market development, information provision; g) Support for research and development. 2. The Government shall specify the form investment support in Clause 1 of [...]

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Forms and beneficiaries of investment incentives

Forms and beneficiaries of investment incentives 1. Forms of incentives: a) Application of a lower rate of corporate income tax for a certain period of time or throughout the project execution; exemption, reduction of corporate income tax; b) Exemption or reduction of import tax on goods imported as fixed assets; raw materials, supplies, and parts used for the project; c) Exemption, reduction of land rents, land levy. 2. Beneficiaries of investment incentives: a) Projects of investment in the business lines given investment incentives specified in [...]

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Assurance of asset ownership

Assurance of asset ownership 1. Lawful assets of investors shall not be nationalized or confiscated by administrative measures. 2. Where an asset is bought or commandeered by the State of reasons of national defense and security, national interests, state of emergency, prevention or recovery of natural disaster, the investor shall be reimbursed or compensated in accordance with regulations of law on property commandeering and relevant regulations of law. Article 10. Assurance of business investment 1. Investors are not required by the State to [...]

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Policies on business investment

Policies on business investment 1. Investors are entitled to make investments in the business lines that are not banned in this Law. 2. Investors may decide their business investments on their own in accordance with this law and relevant laws; may access and make use of loan capital, assistance funds, land, and other resources as prescribed by law. 3. The ownership of assets, capital, income, another the lawful rights and interests of investors are recognized and protected by the State. 4. The State [...]

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Receiving authorities

Receiving authorities 1. For taxpayers who combine taxpayer registration with business registration, the taxpayer registration application and the business registration application shall be submitted to the same authority as prescribed by law. 2. Taxpayers directly registered with tax authorities shall submit their applications as follows: a) Organizations, household businesses and individual businesses shall submit their applications to tax authorities of the areas where their headquarters are located; b) Organizations and individuals responsible for withholding and paying tax on taxpayers’ behalf shall submit their [...]

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Applying for taxpayer registration and TIN issuance

Applying for taxpayer registration and TIN issuance 1. Taxpayers must apply for taxpayer registration and shall be issued with TINs by tax authorities before beginning their business operations or incurring amounts payable to the state budget. The following entities shall apply for taxpayer registration: a) Enterprises, organizations and/or individuals shall apply for taxpayer registration through the interlinked single-window system together with enterprise, cooperative or business registration (hereinafter referred to as “business registration”) as prescribed in the Law on Enterprises and other [...]

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Duties and powers of information and press authorities

Duties and powers of information and press authorities 1. Information and press authorities shall propagate and disseminate tax policies and regulations, set organizations and individuals complying with tax regulations as examples, report and criticize tax violations. 2. Information and press authorities shall cooperate with tax authorities in uploading and providing information as prescribed by law. Article 27. Duties and powers of commercial banks 1. Commercial banks cooperating in collecting tax and other amounts payable to the state budget shall have the responsibility to: a) [...]

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