To facilitate businesses in these industries, the Customs Law will ease requirements for applying preferential treatment to the following specific enterprises: those in the high-tech sector or implementing strategic technology projects, producing key digital technology products, working to research, develop, design, manufacture, package or test semiconductor chip products, building artificial intelligence data centres or producing direct auxiliary products in the semiconductor industry.

Compared to the requirements for applying preferential treatment to normal enterprises, the above firms do not need to meet requirements on turnover and compliance with customs and tax laws for two consecutive years.

Qualified enterprises will be listed by the Ministry of Science and Technology.

For full transparency on preferential treatment, the Customs Law adds a provision that the incentives for the above companies are applied to exported and imported goods related to the semiconductor industry, high technology, strategic technology and key digital technology sectors according to the list announced by the Ministry of Science and Technology. This list has commodity codes consistent with the list of Vietnamese export and import goods.

According to the Customs Department, the incentive is aimed at creating breakthrough policies to promptly remove legal bottlenecks and facilitate enterprises operating in science and technology development, innovation and transformation.

The change is also meant to align the Customs Law with the Law on Digital Technology Industry and the Law on Science, Technology and Innovation.

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