HANOI, Oct. 28 (Xinhua) -- Vietnam's Ministry of Culture, Sports and Tourism has proposed tax incentives for new business models in the tourism sector, local daily VnExpress reported Wednesday.
The proposal is included in a draft resolution on special mechanisms for tourism development, which the ministry presented for consultation from relevant sectors on Oct. 26 before submitting it to the National Assembly for consideration.
To diversify tourism products and increase visitor spending, the ministry proposed encouraging new business models, including the nighttime economy, sharing economy, digital tourism platforms, green tourism, wellness tourism, cruise tourism, and cultural, sports and entertainment complexes.
Eligible businesses adopting these models could be exempt from corporate income tax for five years.
Under the proposal, large tourism projects with investment capital of at least 3 trillion Vietnamese dong (about 117 million U.S. dollars) could qualify for corporate income tax incentives, the report said. ■
