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VIETNAM: Import Tax Exemptions Set to be Introduced for High-Tech Projects

High-tech investment projects in Vietnam will be eligible for import tax exemptions as of 1 August 2016.[1] Qualifying businesses must operate within sectors designated under the country’s existing Law on High Technology[2] or Law on Science and Technology[3] statutes.

In such cases, import tax will no longer be levied on items brought into Vietnam specifically for the development of fixed assets. Equipment, machinery, and special use transportation systems that are unavailable from domestic suppliers have all been explicitly cited as qualifying for exemption.

Companies operating in sectors currently subject to special consumption taxes or involved with the extraction of natural resources are not eligible under the new scheme.



[1]  Circular 83/2016/TT-BTC

[2]  Law on High Technology

[3]  Law on Science and Technology

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