TAX INCENTIVES FOR SCIENTIFIC AND TECHNOLOGICAL ACTIVITIES
This is one of the contents of the Law No. 29/2013/QH13 on Science and Technology approved by the National Assembly on June 18, 2013.
Accordingly, the preferential tax policy shall be applicable to the cases as incomes from the performance of scientific research and technological development contracts; incomes from products turned out from new technologies applied for the first time in Vietnam or products in the stage of trial production; hi-tech businesses, hi-tech application agricultural businesses and a number of activities in hi-tech fields; scientific and technological services; machinery, equipment, spare parts and supplies which cannot be manufactured at home and need to be imported for direct use for scientific research and technological development; funding support of organizations and individuals for scientific research; financial aid received for use for scientific research and so on.
And also in accordance with this Law, science and technology workers shall have the rights to enjoy freedom of creativity and equality in scientific and technological activities; to conduct scientific and technological activities by themselves or in cooperation with organizations or other individuals; to enter into science and technology contracts; to be provided with conditions for participating in or performing scientific and technological tasks within the functions of science and technology organizations of which they are members; to establish science and technology businesses or science and technology organizations in a number of fields specified by the Government; to register for selection or be directly assigned to perform scientific and technological tasks and so on.Besides, the Law also points out that the 18th of May every year is Vietnam’s Science and Technology Day.
This Law takes effect on January 01, 2014.
