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Enterprises and employees working in innovation, semiconductor, and artificial intelligence sectors in Hai Phong will enjoy a five-year income tax exemption.
Le Van Hieu, Chairman of the Hai Phong People’s Council, has signed a resolution stipulating the criteria, conditions, and procedures for tax incentives for activities related to startups, innovation, semiconductors, and artificial intelligence (AI) in the city.
Accordingly, the city People’s Council approved a five-year corporate income tax exemption starting from the time taxable income arises for income generated from innovative and startup activities that meet the set criteria and conditions.
Individuals will also receive a five-year personal income tax exemption on income from the transfer of capital contributions or capital contribution rights in innovative, startup, semiconductor, and AI enterprises, starting from the time of the capital transfer and subject to meeting all conditions.
In addition, the city will exempt personal income tax for five years from the time taxable income arises on salaries and wages of individuals working at innovative and startup enterprises, organizations supporting innovation and startups in the city, provided they meet all required conditions.
The policy applies to innovative and startup enterprises; science and technology organizations; innovation centers; intermediary organizations supporting innovation and startups; organizations and individuals earning income from capital transfers or capital contribution rights in innovative, startup, semiconductor, and AI enterprises, as well as experts, scientists, and startup individuals working at such organizations and enterprises in the city.
The resolution takes effect from October 26 until June 30, 2030.
PHONG TUYET
