In order to make Vietnam’s global sovereign bonds more attractive to foreign investors, the Government on November 1 issued Resolution No. 78/NQ-CP on tax exemption for government bonds issued on the global market in 2014.
Specifically, sovereign bonds issued in the international market in 2014 will no longer be liable to corporate income and personal income taxes.
The new regulation also requires the Ministry of Finance to include the grant of the exemption in the prospectus and related documents for investors. The Ministry of Justice will be responsible for expressing its opinions on the issuance of global sovereign bonds.
This is the third time the Government has issued sovereign bonds, which are expected to be swapped with debts due next year.-