On 21 July 2016, the Vietnam General Department of Taxation announced the issuance of Circular No. 83/2016/TT-BTC, which guides the implementation of investment tax incentives prescribed in the Investment Law and government decree No. 118/2015/ND-CP. The main corporate income tax (CIT) incentives include: A four-year CIT exemption followed by a nine-year 50% CIT reduction for qualified scientific and technological enterprises investing in high-tech zones; CIT exemption or reduction for increased revenue of qualifying enterprises that expand their scope of business, upgrade production capacity or change to new production technology; and Investment projects meeting conditions for multiple incentives may choose the...