Ministry of Finance proposes carbon credit tax exemption, Vingroup, Vinamilk and Masan 'take the lead'

From 2025, Vietnam will officially pilot a carbon credit trading platform. This is not only an important step in the roadmap to reduce emissions but also a golden opportunity for businesses to take the lead in the green economic trend.

According to Dan Tri newspaper, the Ministry of Finance is proposing to study the exemption of personal income tax on the first transfer of emission reduction certificates and carbon credits after issuance. Authorities also propose to exempt tax on income from the first transfer of green bonds after issuance and interest from these bonds.

The drafter proposed that the Government will detail tax exemptions in the above cases. This move is aimed at promoting sustainable development activities, towards realizing Vietnam's commitments at the COP26 climate conference.

A carbon credit is a tradable, marketable permit or certificate that gives the credit holder the right to emit 1 ton of CO2 or another listed greenhouse gas.

Previously, on January 24, 1, the Prime Minister issued Decision No. 2025/QD-TTg approving the Project on establishing and developing a carbon market in Vietnam.

The Prime Minister issued Decision No. 232/QD-TTg approving the Project on establishing and developing a carbon market in Vietnam (Illustration photo)

The overall objective of the Project is to develop a carbon market in Vietnam, contributing to the implementation of the greenhouse gas emission reduction target committed in the Nationally Determined Contribution (NDC) at low costs for businesses and society, creating new financial flows for greenhouse gas emission reduction activities, promoting green transformation, developing low-emission technologies, contributing to improving the competitiveness of Vietnamese enterprises domestically and in the world market, developing a low-carbon economy and proactively responding to climate change, towards achieving net emissions of "0" by 2050.

The project aims to gradually build and complete the legal framework for the exchange of greenhouse gas emission quotas, carbon credits and the mechanism for exchanging and offsetting carbon credits by June 6, ensuring the legal basis for the pilot implementation of a carbon trading floor; building infrastructure to serve the organization and operation of the carbon market; improving the management capacity and organization of the carbon market operation of state management agencies, the capacity and awareness of enterprises, organizations and individuals to meet the readiness to participate in the carbon market.

Regarding specific objectives, from June 6 to the end of 2025, pilot operation of domestic carbon trading floors. Continue to complete the system of legal documents serving the organization and operation of the carbon market.

From 2029, the domestic carbon trading floor will be officially put into operation. Continue to improve legal regulations and infrastructure for the carbon market; continue to improve the management capacity and organization of the carbon market operation of state management agencies, the capacity and awareness of enterprises, organizations and individuals to meet the requirements of the new period.

Vingroup, Vinamilk, Masan 'go ahead, take the lead'
Starting in 2016, Masan High-Tech Materials (MSR - a subsidiary of Masan Group) began planting trees on the waste rock land after mineral exploitation. By 2023, they had covered about 58 hectares of the project area with greenery.

At that time, Mr. Phan Chien Thang, Director of Communications, Community and External Relations, Masan High-Tech Materials Company shared: “According to the roadmap of the Vietnamese Government, the carbon market will officially operate in 2028. Up to now, we have always implemented the form of energy saving, tree planting, waste recycling and it can be said that at this point, we are technically and financially ready to participate in the purchase and exchange of carbon credits in the future, as soon as the market officially comes into operation”.

Image of energy plants planted at MSR's Nui Phao mine from 2021 (Source: Tien Phong Newspaper)

Similarly, Mr. Le Hoang Minh, Head of Net Zero Project of Vinamilk (HoSE: VNM), said that after completing the planting of 1 million new trees, Vinamilk will continue to plant trees to neutralize carbon, with the goal of reducing greenhouse gas emissions by 15% by 2027, and reducing and neutralizing 55% of emissions by 2035. "It is expected that in the next 5 years, we will plant 2-3 million trees, starting with mangrove trees. Mangrove trees absorb CO2 very well, while also preserving soil for farmers," Mr. Minh revealed.

Mr. Nguyen Quoc Khanh, Executive Director of Research & Development (R&D) of Vinamilk, said that the company has recently implemented many solutions to achieve the goal of net zero emissions by 0. "In the future, we may consider selling carbon credits if the absorption of greenhouse gas emissions is greater than the amount emitted," Mr. Khanh said.

At the 2024 Annual General Meeting of Shareholders of Vingroup Corporation (VIC), in the discussion session, Mr. Pham Nhat Vuong shared: "We have established a working group to promote the sale of carbon credits not only in Vietnam but also in other countries".

In fact, since the beginning of 2025, Vingroup has signed a series of memorandums of understanding to promote green transformation, including plans to deploy carbon credits with Da Nang City (February 25), Lao Cai Province (February 2), and Bac Giang Province (February 27).

Previously, on January 21, V-GREEN - Vingroup's charging station development company founded by Mr. Pham Nhat Vuong, signed an agreement with green energy company eTreego (Taiwan) on developing a network of VinFast electric vehicle charging stations. V-GREEN stated that one of the goals of the agreement is to promote other green transformation initiatives, including building a carbon credit certification project for its charging stations.

The carbon credit market is opening up great opportunities for Vietnamese businesses on the journey towards sustainable development and achieving the goal of net zero emissions. With the potential of hundreds of millions of USD per year, carbon credits are not only a tool to contribute to environmental protection but also become an attractive source of income in the future.

Source: https://nguoiquansat.vn/bo-tai-chinh-de-xuat-mien-thue-tin-chi-carbon-vingroup-vinamilk-va-masan-di-truoc-don-dau-203866.html