New preferential taxes for environment protection
VGP – According to a draft circular issued by the Ministry of Finance (MoF), enterprises operating in the area of environment protection will be offered a series of tax incentives.
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An waste treatment assembly line – Illustration photo |
Enterprises and co-operatives investing in environmental protection projects will enjoy a tax rate of 10% imposed on their incomes from carrying out the projects.
Newly founded enterprises operating in the field will enjoy tax exemption in the first four years and 50% tax cut in the next five years.
Especially, if implementing the projects in disadvantaged localities, those enterprises can receive 50% tax reduction for nine years.
The tax incentives are granted to incomes from environment protection projects onlu.
The environment protection enterprises will be exempted from tax when importing machines, equipment, devices, and materials used to collect, store, transport, recycle and treat wastes, analyze the environment, generate clean and renewable energies.
Besides preferential tax, enterprises will be assisted to promote their products .
By Kim Anh
