Decree No. 02/2002/ND-CP dated January 3, 2002 of the Government amending and supplementing a number of Articles of the Government’s Decree No. 20/1998/ND-CP of March 31, 1998 on development of commerce in mountainous areas, on offshore islands and in regions inhabited by ethnic minority people
SOCIALIST REPUBLIC OF VIET NAM
Independence - Freedom - Happiness
Hanoi, January 03, 2002
AMENDING AND SUPPLEMENTING A NUMBER OF ARTICLES OF THE GOVERN-MENT�S DECREE No. 20/1998/ND-CP OF MARCH 31, 1998 ON DEVELOPMENT OF COMMERCE IN MOUNTAINOUS AREAS, ON OFFSHORE ISLANDS AND IN REGIONS INHABITED BY ETHNIC MINORITY PEOPLE
Pursuant to the Law on Organization of the Government of September 30, 1992;
Pursuant to the Commercial Law of May 10, 1997;
At the proposal of the Minister of Trade,
Article 1.- To amend and supplement a number of articles of the Government’s Decree No. 20/1998/ND-CP of March 31, 1998 on development of commerce in mountainous areas, on offshore islands and in regions inhabited by ethnic minority people as follows:
1. To amend Article 9 as follows:
Article 9.- Enterprise income tax
1. Traders who have enjoyed profit tax exemption and/or reduction preferences now continue to enjoy enterprise income tax exemption and/or reduction for the period and at the levels prescribed in (former) Article 9 of the Government’s Decree No. 20/1998/ND-CP of March 31, 1998.
2. Traders entitled to enterprise income tax exemption and/or reduction preferences must have their head offices or registered branches operating in mountainous provinces or provinces having mountainous areas.
2. To amend Article 10 as follows:
Article 10.- Lending interest rates
1. Traders who borrow capital from the State commercial banks for reserve, retail of essential commodity items, and purchase of agricultural and forestry products in Regions II and III in mountainous areas, on offshore islands and in regions inhabited by ethnic minority people, shall enjoy the 20% reduction of the lending interest rate as compared to the ordinary lending interest rate of the State commercial banks at the time of loan provision.
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