HÀ NỘI — Cashing in on talent, the Ministry of Finance has proposed exempting personal income tax for managers, experts and scientists working at the country’s upcoming international financial centre (IFC) until 2030, in a bid to lure skilled professionals.

The proposal is set out in a draft decree on financial policies for the IFC, now open for public comment.

According to the ministry, the tax exemption would cover both Vietnamese and foreign professionals.

The draft also outlines exemptions on personal income tax for individuals transferring shares, stakes or rights to purchase shares in IFC entities until 2030, with the exception of public companies.

For businesses, the ministry has proposed a preferential corporate income tax rate of 10 per cent for 30 years, full exemption for up to four years and a 50 per cent reduction for up to nine subsequent years for investments in prioritised sectors.

A corporate tax rate of 15 per cent for 15 years, exemption for up to two years and a 50 per cent reduction for up to four years are proposed for investments in other sectors.

The ministry said the incentives are designed to attract high-quality professionals and long-term investment, helping to position the IFC as a regional financial hub. — VNS