On Wednesday, representatives from the Da Nang Taxation Department met with those from local information technology (IT) businesses.

The intention was to introduce the preferential policies about corporate income tax for businesses involved in software and digital content production services.

Accordingly, these businesses will enjoy an incentive corporate income tax rate of 10% in 15 first years of their operation. In addition, they will enjoy corporate income tax exemption for 4 first years of their operation, and a 50% reduction for the 9 following years.

The Da Nang Software Park has been recognised as a dedicated IT Park, and it is now home to a total of 75 domestic and foreign IT businesses.

The Da Nang authorities have developed plans for constructing another IT Park project in Hoa Vang District and the Software Park No 2 project in Hai Chau District following the model of dedicated IT Park.

In addition to these above-mentioned incentives, developers of new IT projects in the city’s dedicated IT Parks will enjoy import duty exemption for raw materials, supplies and accessories that cannot be domestically produced, and are imported for production activities at their investment projects.