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Official Gazette

Tuesday, December 12, 2017

Finance Ministry details incentives for agriculture investors

Updated: 14:49’ - 25/03/2015

As provided in Finance Ministry Circular No. 30/2015/TT-BTC of March 9, detailing the estimation, settlement and finalization of support amounts provided to enterprises investing in agriculture and rural areas, these investors will be entitled to exemption from or reduction of land use levy and land or water surface rental.

At the same time, they will enjoy state budget supports for human resource training, market development, application of scientific and technological advances, and infrastructure construction.

Specifically, they may receive support amounts from the state budget when having complete and valid dossiers as prescribed.

Upon the completion of each of their projects’ investment items and bidding packages, agriculture investors may receive in advance 70 percent of support amounts for such item or bidding package. They may have the remaining 30 percent paid after their projects are completed and tested for acceptance.

A project that has only one investment item eligible for investment incentive, its investor will enjoy a lump-sum payment when it is completed.

For the funding for human resource training and market development, those investors may receive an advance of up to 70 percent of to-be-provided support amounts right after they conclude contracts and transfer money to the contract-performing party.

An investor that has an investment project eligible for different levels of investment incentive and support at a time may choose to enjoy the highest level.

The new regulation will take effect on April 27, and replace Circular No. 84/2011/TT-BTC of June 16, 2011.-

 

VNL_KH1 

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