Procedures for applying investment incentives 

Based on Article 17 of the Law on Investment 2020 and Article 23 Decree No. 31/2021/ND-CP, investors shall determine investment incentives themselves and follow procedures for enjoying investment incentives at the tax authority, finance authority, customs authority or other competent authority corresponding to each type of investment incentive. Specifically:

Step 1: Determine the basis for applying investment incentives

For granted projects:

- Investment registration certificate; or

- Decide on investment policy; or

- Decision on investor approval; or

- Science and technology enterprise certificate; or

- Certificate of agricultural enterprise applying high technology; or

- Certificate of high technology application project; or

- Certificate of incentives for production of supporting industrial products; or

- Technology transfer certificate to encourage transfer.

Based on the content of this document, determine the form, basis, and conditions for applying investment incentives.

For projects that are not granted one of the above documents, investors will base on the beneficiaries of investment incentives according to regulations to determine incentives as well as carry out procedures for enjoying investment incentives.

Step 2: Submit application for investment incentives via post/directly at the headquarters of the agency applying investment incentives

Profile include:

- Declare/recommend application of investment incentives.

- Investment registration certificate, Investment policy decision; Certificate of science and technology enterprise... in case of being issued one of these types of documents.

Step 3: Tax authorities, financial authorities, customs authorities, and competent state agencies apply land investment incentives and other incentives to investors who meet the conditions.

2 cases of adjusting investment incentives

According to Article 22 of Decree No. 31/2021/ND-CP, investment incentives are adjusted in the following cases:

- An investment project which is entitled to investment incentives and satisfies conditions for receiving investment incentives at a higher level or additional investment incentives in the new form of incentive shall be entitled to the investment incentives at the higher level or additional investment incentives in the new form of incentive for the remaining incentive period.

- The investor shall not be entitled to the incentives written on the investment registration certificate or decision on approval for investment guidelines or the incentives determined by the investor itself if the investment project fails to satisfy the conditions for investment incentives specified in the investment registration certificate, decision on approval for investment guidelines, decision on approval for both investment guidelines and investor or decision on investor approval or fails to satisfy the conditions for investment incentives determined by the investor itself. If the investment project satisfies the conditions for other investment incentives, the investor is entitled to the investment incentives according to such conditions.

- During the period of entitlement to incentives, the investor whose investment project fails to satisfy conditions for investment incentives for a certain period shall not be entitled to such investment incentives for such period of failure to satisfy the conditions for investment incentives.