Economic zone means an area with a defined geographical boundary, comprising many functional areas, which was established to fulfill the objectives of attracting investment, socio-economic development and protecting national defense and security.
Industrial park means an area with a defined geographical boundary, specializing in the production of industrial goods and provision of services for industrial production.
Investment incentives for which industrial parks and economic zones are specifically specified in Circular 43 guiding the provisions of Clause 4, Article 24 of Decree No. 82/2018 / ND-CP of May 22, 2018 of Government on investment incentives for industrial zones and economic zones.
Accordingly, the costs of investment in construction, operation or rent of condominiums and social infrastructure works in service of workers working in industrial parks and economic zones of the project enterprises. Investments in industrial parks and economic zones shall be deducted when determining incomes subject to enterprise income tax, specifically as follows:
For the value of fixed assets: To be included in the value of works and depreciation deducted into deductible expenses when determining the income subject to enterprise income tax if meeting the conditions of fixed assets as prescribed. of the Ministry of Finance regarding the management, use and depreciation of fixed assets.
For expenses (except for the above case): To be included in deductible expenses when determining taxable income according to the provisions of law on corporate income tax.
The circular stated that incentives for investment projects to build houses, cultural and sports facilities, social infrastructure works to serve workers in industrial parks and economic zones.
Investment projects on construction of houses, cultural and sports facilities, social infrastructure works in service of workers working in industrial parks or economic zones are eligible for incentives under the construction law. Social housing construction and related laws.
As such, the Vietnamese state has many investment incentives for industrial parks and economic zones, investors should consider to achieve the highest economic efficiency.
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