Specifically, exemption and reduction of corporate income tax, income of science and technology enterprises from the production and trading of products formed from scientific and technological results are preferential to free incentives, reducing corporate income tax like enterprises implementing new investment projects in the field of scientific research and technological development, specifically: 4-year tax exemption and 50% reduction of payable tax for the next 9 years.

Revenue and income from production and business activities of products formed from scientific and technological results. Revenue and income generated from services with the application of scientific and technological results in the field of information technology must be revenue and income from new services.

Scientific and technological enterprises are not preferential to enterprise income tax exemption or reduction for the financial year, which fails to meet the conditions on turnover of products, formed from scientific and technological results with lowest rate 30% of the total turnover of the enterprise.

Conditions and procedures for implementing corporate income tax preferentiality comply with the law on corporate income tax and tax administration management.

The Decree also stipulates: Science and technology enterprises are exempted or reduced land and water surface rent payments in accordance with the law on land.

The Department of Science and Technology is responsible for coordinating with the land user receiving agency in accordance with Article 60 of Decree No. 43/2014 / ND-CP dated May 15, 2014 of the Government when determining to determine the exempted and reduced land area for scientific and technological purposes.

Procedures and dossiers of propose for land rent and surface water rent exemption or reductioncomply with the law on land rent and tax administration management.

The Decree will take effect on March 20, 2019.