The Vietnamese government has promised PetroVietnam that tax breaks will be given to any bidders ...
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In a media briefing in Houston, Texas, the general manager of PetroVietnam International Cooperation, Dinh Huu Loc, revealed that the Vietnam government has agreed to reduce corporate income taxes from the previous 50% to 32%.
Furthermore, royalties on production would now be adjusted on a sliding scale, which will depend upon eventual production rates. The new maximum is now 4% for smallest projects. The previous rate was 8%.
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