HCM City would offer tax incentives to enterprises which invest in sectors that the city promotes for investment purposes.— Illustrative image/ Photo doisongphapluat

HCM CITY (Biz Hub) — The HCM City authorities would readily support overseas-based Vietnamese enterprises to do business in the city, representatives of the state offices said at a meeting here yesterday.

The meeting between the authorities and overseas-based Vietnamese enterprises was organised by the HCM City Investment and Trade Promotion Centre and the HCM City Committee of Overseas Vietnamese to solve the difficulties in investment and trading faced by these firms.

About 80 Vietnamese enterprises involved in import, export, production and services in 11 countries and territories such as Australia, France, US, Singapore, Belgium, Canada, Germany and Japan attended the meeting.

The city customs and taxation departments provided information about customs and taxation procedures for import and export activities in the city, the Vietnam News Agency reported.

Meanwhile, the overseas-based Vietnamese enterprises paid attention to the details presented about the various kinds of taxes and preferential interest rates for loans, including individual income tax, corporate income tax, value added tax for imports, tax for high-tech projects and loans with soft interest rates.

Pham Duc Hoa, an expert from the Taxation Department, said eligible enterprises could get loans at zero interest rate for some products such as office stationery and food for consumption in the enterprises.

HCM City would offer tax incentives to enterprises which invest in sectors that the city promotes for investment purposes, he said.

Nguyen Chi Dung, a representative from the Nguyen Chi Technology Company and Phan Van Tuc, a Vietnamese based in Japan, proposed that the state should review regulations for import of second-hand equipment and technology because it is difficult to assess the value of such items. — VNS