Vietnam: Draft decree regarding incentives to support industries
Guidance regarding incentives intended to support certain industry sectors
Guidance regarding incentives intended to support certain industry sectors
A draft decree aims to clarify previous guidance regarding incentives intended to support certain industry sectors. The draft decree would clarify the incentives for supporting the industry sectors, expand the list of products, and add to the criteria for entitlement to the supporting incentives.
Decree 111/2015/ND-CP (3 November 2015) or “Decree 111” provided guidance regarding the development of and supporting certain industries, and focused on a number of industry sectors such as the textiles and garment industry, shoe and leather industry, electronics industry, automobile manufacturing and assembly industry, mechanical engineering industry, and supporting products serving the high-tech industry.
The draft decree would:
- Address the determination of an expansion investment project entitled to an incentive
- Expand the list of products eligible for incentives
- Add certain preconditions for entitlement to the incentives
Read a November 2021 report [PDF 276 KB] prepared by the KPMG member firm in Vietnam
The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 3712, 1801 K Street NW, Washington, DC 20006.