Preferential tax policy
Regarding preferential treatments to promote the diversity of cultural expressions, Viet Nam applies preferential tax policies and implements other related target programmes. These tools are regarded as two important measures to foster cultural diversity.
To implement the policy of “Socialization” by the State and the Party in the field of arts and culture, Decree No. 69/2008/ND-CP of the Government on Preferential Policies for “Socialization” in the Fields of Education, Vocational Training, Healthcare, Culture, Sports and Environment was issued on 30th May 2008 to provide for the updating of the tax policy system. The state now provides tax preferences for public and non-public cultural and artistic establishments (including foreign invesment projects in artistic and cultural “Socialization” activities), satisfying the requirements (stated in the list of artistic and cultural forms; scope, standards regulated in Decision No. 1466/QD-TTg of 10th October 2008 of the Prime Minister; as well as other regulations on tax codes).
In this way, these above-mentioned establishments should now enjoy preferential treatments on:
- tax (value added tax; export, import tax; business income tax);
- land; and
- credit and investment.
However, in reality these tax preferences have not yet been implemented, obstructing the participation of different economic sectors, as well as the creativity of artists.