Investment projects in districts of Ca Mau province are applied to enjoy preferential policies in the area of ”special investment incentives”. Specifically, the preferential policies on land lease and corporate income tax are as follows:
1. Exemption or reduction of land rents and water surface rents
a) Exemption from land rents and water surface rents for projects in the field of special investment incentives; projects of building apartment buildings for workers in industrial zones; projects on construction of public (business) public works for education, healthcare, culture, physical training, sports, science and technology; Agricultural projects with special investment incentives are exempted from land rents and water surface rents from the date the projects are completed and put into operation in accordance with Decree 210/2013/ND-CP.
b) Exemption from land and water surface rent during the construction of projects approved by competent authorities.
c) After the construction is completed and the project is put into operation:
Exemption from land rent and water surface for 15 years for investment projects in the field of investment incentives.
Exemption from land and water surface rent for 11 years for other projects.
2. Land use levy exemption or reduction
Exemption of land use fees for projects on construction of high-rise apartment buildings for industrial park workers; projects of constructing public works with business purposes in the field of education; medical; cultural; physical training and sports (socialization).
Agricultural land with special incentives, if it is allocated land by the State, will be exempted from use of money for investment projects.
Exemption of land use fees for projects in the field of special investment incentives.
Reduce 50% of land use fee for projects in the field of investment incentives, agricultural projects that encourage investment if allocated by the State under Decree 210/2013/ND-CP.
30% reduction of land use fees for other projects.
3. Applicable tax rates and policies on exemption and reduction of corporate income tax
a) The tax rate of 10% throughout the operation duration shall apply to the income of enterprises operating in the fields of education – training, vocational training, health care, culture, sports and environment (collectively) is the field of socialization); income of enterprises from planting, tending, protecting forests, cultivating agriculture, forestry and aquatic products; production, artificial and crossbred plants and animals; invest in preserving post-harvest agricultural products, preserving agricultural, fishery and food products.
b) Applying the tax rate of 10% for a maximum of 15 years from the first year in which the enterprise earns revenue from the execution of new investment projects in other fields.
c) Exemption from income tax for no more than 4 years and a 50% reduction of payable tax for no more than 9 subsequent years from the time the enterprise has taxable income from the implementation of a new investment project in all aspects. In case there is no taxable income in the first 3 years, counting from the first year of revenue from new investment projects, the time for tax exemption and reduction is calculated from the fourth year.
4- Support, preferential credit
Investment projects will be considered for investment credit loans, post-investment supports and export credit loans.
5. Preferential policies on import and export taxes
Exempt import tax for goods, facilities, machinery and equipment creating fixed assets; raw materials and materials cannot be produced domestically; machinery located in technological lines or for manufacturing components, details, removable parts, spare parts, fixtures, molds, accessories accompanying to assemble synchronously with equipment, machinery … according to regulations government.
Plant varieties and animal breeds are allowed to be imported to carry out investment projects in the fields of agriculture, forestry and fishery.
A number of other special machines, equipment and supplies as prescribed by the Government.
Commitment of the local
The People’s Committee of Ca Mau Province is committed to creating the most favorable conditions for investors to learn and invest in Ca Mau Province.
The province is responsible for site clearance, good ground preparation for investors to quickly implement the project. At the same time, consider supporting investment in essential infrastructure such as roads, electricity systems to the fences of industrial parks and projects.
In the course of operation, local functional agencies are ready to receive feedback from businesses and investors. Depending on the functions and tasks of the agency, classify, handle or promptly report to the provincial People’s Committee and competent agencies for consideration and settlement. The provincial leaders periodically organize meetings, meetings and direct dialogues with businesses and investors to support the settlement of difficulties for businesses and investors.
