The National Assembly approved a series of specific policies applicable to the International Financial Center in Vietnam.

The National Assembly's Resolution stipulates a series of specific policies applicable to the International Financial Center in Vietnam, including policies on foreign exchange, banking activities; finance, capital market development; taxes; fees, charges; policies for strategic investors...

On the morning of June 27th, with 438 out of 447 participating delegates voting in favor, the National Assembly passed a Resolution on an International Financial Center in Vietnam.

The resolution states that the International Financial Center is a geographically defined area established by the Government in Ho Chi Minh City and Da Nang, concentrating a diverse ecosystem of financial services and support services.

The results of the vote to pass the Resolution. (Photo: DUY LINH)

The international financial center is built on a unified basis of operation, management, and supervision; it has a distinct product development orientation, leveraging the strengths of each city; ensuring fairness and mutual support, aiming to become a leading international financial center, elevating Vietnam's position in the global financial network, and linked to economic growth drivers.

Simultaneously, the plan aims to promote sustainable finance, encourage the development of green financial products, and mobilize resources for energy transition and green transformation projects, contributing to sustainable socio-economic development; attract and develop high-quality human resources and financial experts from both domestic and international sources; and create a favorable working and living environment for international experts and entrepreneurs in the international financial center.

The National Assembly's resolution stipulates a series of specific policies applicable within the International Financial Center in Vietnam, including policies on foreign exchange, banking operations; finance, capital market development; taxes; fees and charges; and policies for strategic investors...

Regarding tax policy, the income of enterprises from implementing new investment projects in the International Financial Center area, belonging to priority sectors within the International Financial Center, is subject to a corporate income tax rate of 10% for 30 years, with a maximum corporate income tax exemption of 4 years and a 50% reduction in tax payable for a maximum of 9 subsequent years.

Minister of Finance Nguyen Van Thang presents the report explaining, receiving feedback, and revising the draft Resolution before the National Assembly votes to approve it. (Photo: DUY LINH)

Income of enterprises from implementing new investment projects arising in the International Financial Center area, excluding priority sectors for development within the International Financial Center, is subject to a corporate income tax rate of 15% for a period of 15 years, with a maximum tax exemption of 2 years and a 50% reduction in tax payable for a maximum of 4 subsequent years.

Managers, experts, scientists, and highly qualified professionals working at the International Finance Center, including both Vietnamese and foreign nationals, are exempt from personal income tax on salaries and wages earned from performing work at the International Finance Center until the end of 2030.

Regarding visa and residence policies for experts, managers, and investors, the National Assembly approved the issuance of visas and temporary residence permits valid for up to 10 years for foreign nationals who are important investors, experts, managers, and highly skilled workers employed by agencies and organizations headquartered in the International Financial Center (visa/temporary residence permit code: UĐ1) and accompanying family members (visa/temporary residence permit code: UĐ2).

The National Assembly's Resolution on an International Financial Center in Vietnam takes effect from September 1, 2025. The National Assembly assigns the Government to conduct a preliminary review and report to the National Assembly on the implementation of the Resolution after 5 years. No later than March 30, 2034, the Government shall report to the National Assembly on the results of the Resolution's implementation and propose the enactment of a Law on the Financial Center.

Nhandan.vn

Source: https://nhandan.vn/quoc-hoi-thong-qua-loat-chinh-sach-dac-thu-ap-dung-trong-trung-tam-tai-chinh-quoc-te-tai-viet-nam-post889920.html