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Ministry of Finance does not approved incentives for Binh Dinh super refinery project

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The Ministry of Finance have official letter no.4208 sent to the Government has not approved incentives for Thailand PTT s 28 billion dola Binh Dinh refinery project in Nhon Hoi economic industry zone.

According to the draft, the PTT wants incentives for projects not less than the refinery project has been built in Vietnam.
PTT propose income tax for the project: Applying the rate of 10% within 30 years after the operation, the tax exemption in the first 4 years after taxable and a decrease 50% amount of tax payable in the next 9 years. Ministry of Finance proposed: applies income tax at the rate of 15% in 15 years, tax exemption in 04 years and decrease 50% of the tax payable in the next 9 years. About import tax, in accordance with Decree No. 87/2010/ND-CP of 13 August 2010, Binh Dinh refinery project will apply duty-free import of fixed assets of the project.

PTT proposed duty-free imports of crude oil. The Ministry of Finance said that: Currently crude import tax are 0%. Ministry of Finance proposed crude oil import tariff prescribed by law.