Vietnam Grants Tax Incentives to Nidec Projects

The Vietnamese government has granted corporate income tax rate of 10%, half of the general tax, for Nidec Corporation’s three investment projects in Saigon Hi-Tech Park, encouraging the Japanese firm to expand its operations here.

These subsidiaries include Nidec Vietnam Corporation, Nidec Sankyo Vietnam, and Nidec Servo Vietnam, among the five Nidec subsidiaries in Saigon Hi-Tech Park.

Nidec Corporation previously complained that its subsidiaries faced difficulties in determining the preferential corporate income tax due to different interpretations between corporation and state audit agencies, as well as between state agencies.

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