Vietnam has approved a decision on the development of a border gate economic zone in the southern Tay Ninh province, bordering Cambodia, into an international trading center, the newspaper Vietnam News reported Wednesday.
Under the decision, the development project of Moc Bai border gate economic zone, which covers some 21,300 hectares, bordering Cambodia to the west, will include trading and industrial zones, an administrative management zone, an international border checkpoint, urban and residential areas, and tourism and services project.
The trading and industrial zones are non-tariff areas. All imports to and exports from the trading and industrial zones are exempt from import, export and value-added taxes. As for commodities and services that are liable to special consumption tax, they will not be subject to the tax if they are produced or sold in the zones or exported abroad, said the paper.
Meanwhile, Vietnamese or foreign organizations and individuals, having investment projects, production, business and services in the trading and industrial zones, will be exempt from corporate income tax in the first four years.
Source: Xinhua
Under the decision, the development project of Moc Bai border gate economic zone, which covers some 21,300 hectares, bordering Cambodia to the west, will include trading and industrial zones, an administrative management zone, an international border checkpoint, urban and residential areas, and tourism and services project.
The trading and industrial zones are non-tariff areas. All imports to and exports from the trading and industrial zones are exempt from import, export and value-added taxes. As for commodities and services that are liable to special consumption tax, they will not be subject to the tax if they are produced or sold in the zones or exported abroad, said the paper.
Meanwhile, Vietnamese or foreign organizations and individuals, having investment projects, production, business and services in the trading and industrial zones, will be exempt from corporate income tax in the first four years.
Source: Xinhua
