| THE PRIME MINISTER OF GOVERNMENT ----------- | SOCIALIST REPUBLIC OF VIET NAM Independence - Freedom – Happiness -------------- |
| No. 53/2004/QD-TTg | Hanoi, April 5, 2004 |
DECISION
ON A NUMBER OF POLICIES TO ENCOURAGE INVESTMENT IN HI-TECH PARKS
THE PRIME MINISTER
Pursuant to the Law on Organization of the Government of December 25, 2001;
Pursuant to the Science and Technology Law of June 9, 2000;
Pursuant to the Land Law of November 26, 2003;
Pursuant to the Domestic Investment Promotion Law (amended) of May 20, 1998;
Pursuant to the November 12, 1996 Law on Foreign Investment in Vietnam; the June 9, 2000 Law Amending and Supplementing a Number of Articles of the Law on Foreign Investment in Vietnam; and the Government’s Decree No. 24/2000/ND-CP of July 31, 2000 detailing the implementation of the Law on Foreign Investment in Vietnam;
Pursuant to the June 17, 2003 Law on Enterprise Income Tax and the Government’s Decree No. 164/2003/ND-CP of December 22, 2003 detailing the implementation of the Enterprise Income Tax Law;
Pursuant to the May 19, 2001 Ordinance on Income Tax on High-Income Earners and the Government’s Decree No. 78/2001/ND-CP of October 23, 2001 detailing the implementation of the Ordinance on Income Tax on High-Income Earners;
Pursuant to the Government’s Decree No. 99/2003/ND-CP of August 28, 2003 promulgating the Regulation on Hi-Tech Parks;
At the proposal of the Minister of Science and Technology,
DECIDES:
Article 1.- Regulation scope
This Decision prescribes a number of incentive policies for investment projects in hi-tech parks according to the provisions of Article 5 of the Regulation on Hi-Tech Parks, promulgated together with the Government’s Decree No. 99/2003/ND-CP of August 28, 2003.
Article 2.- Subjects of application
The subjects entitled to investment promotion policies prescribed in this Decision include:
1. Domestic and foreign organizations as well as enterprises and individuals being Vietnamese, foreigners or overseas Vietnamese having investment projects in hi-tech parks as prescribed in Article 1 of this Decision (hereinafter called investors for short).
2. Individuals being Vietnamese, foreigners or overseas Vietnamese working for investment projects in hi-tech parks as prescribed in Article 1 of this Decision.
Article 3.- Tax preference policies
1. Enterprise income tax
Investors shall enjoy the enterprise income tax rate of 10% throughout the project execution duration; be exempt from the enterprise income tax for 4 years after taxable incomes are generated and enjoy 50% reduction of payable tax amounts for 9 subsequent years.
