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Mr. Vo Kim Located each signed the incentives for Formosa everything



Coming from the time as Mouthpiece Chairman of Ha Tinh, Vo Kim Cu, on behalf of the territorial People's Committee Number 858 signed documents for the accreditation of investment bonuses sent Formosa, which suggest the period of land lease is 70 years and 50% of product advertising in the paper Ha Tinh.




In line with the understanding of the MEDIA REPORTER, Kim vo text Located on behalf of the Ha Tinh people's Panel signed on 9/4/2008 proclaiming the confirmed investment bonuses for projects in flat iron and steel complex and the port of Formosa Serow.




Specifically, in offers, income tax rates are Formosa business income 10% apply for 15 years, since the project commenced operations; corporate income duty exemption in the 4 years since have taxable income and 50% of the tax in the next 9 years.








Formosa project part in Vung Ang Economic Zone



The written text also evidently state when the task goes into operation, the PPC will process the prime consideration for enjoy corporate income tax of 10% for the timeframe of the project.


Along the way of production and business activities, after tax with the tax authorities, if loss, the business was relocated to the years following losses to apart from on taxable income. The time switch holes at most 5 years.


In addition, this unit was reduced 50% personal income taxes for high income earners, bap including regular income and not regular (including Vietnam and foreigners) working at Vung Ang economical zone.


Formosa is also tax free importation of machinery, equipment and travel means to create set assets of the job. In addition, Formosa was also imported taxes for 5 years, since the start of production for the production of natural materials, materials, semi-finished companies components are imported in the area have not produced.


In the text also evidently Formosa are tax-exempt land 15 years from the date the lease of land legal effect. Property leasing period explained in the text is seventy years. Upon expiry of the land lease, if there is demand, Formosa will be priority continue to land rental, land lease policy is applied in line with the legal provisions Vietnam at that time.


Regarding supporting the price tag on advertising, this unit reduces 50% of the price tag on newspaper advertisings and radio Ha Tinh television set for the new products of the plant during 1 year.


Quang Phong

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