Official Letter No. 96/TCT-CS dated January 8, 2025, issued by the General Department of Taxation, regarding corporate income tax (CIT) policies for farm leasing activities by enterprises:
Income generated by enterprises from cultivation, animal husbandry, aquaculture, or the processing of agricultural and aquatic products in areas with exceptionally difficult socio-economic conditions is exempt from corporate income tax. Income from new investment projects implemented in areas with exceptionally difficult socio-economic conditions is eligible for a CIT rate of 10% for 15 years, a 4-year tax exemption, and a 50% tax reduction for the following 9 years.
If an enterprise fails to comply with the objectives of the project (e.g., a livestock project) as stated in its Investment Registration Certificate or Investment Policy Decision, the enterprise will not be entitled to CIT incentives for income derived from farm leasing activities.
