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Draft decree details BOT, BTO contracts (29/08)
06/08/2010 - 172 Lượt xem
The draft stipulates that the Prime Minister is to have the final say on projects valued at over VND3 trillion (US$187 million) while the Ministry of Planning and Investment will be responsible for appraising foreign-invested projects valued at less than VND3 trillion.
The chairpersons of provincial People's Committees are to evaluate projects involving domestic capital of VND3 trillion or less, according to the decree.
Investors are required to demonstrate that they have at least 30 percent of the capital for a project before it is undertaken, although this proportion could be reduced to 20 percent in special cases, the decree states.
The draft stipulates that corporate income tax for investors in these projects would be 10 percent. Investors are exempted from the tax in the first four years of operation and a tax rate of five percent is applicable in the next nine years
Source: VOV
