Vietnam has recently granted corporate income tax exemptions to businesses in seafood processing under Decree 320 issued on 15 December, following nearly 5 years of persistent petitions, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
The decree exempts income from seafood processing, aquaculture, and offshore fishing, especially in areas with difficult socio-economic conditions, and applies to enterprises, cooperatives, and processing service providers.
Processed products eligible for tax exemptions include frozen goods at minus 18 degrees celsius or below, cooked products, and value-added items with seasonings, provided raw seafood accounts for at least 30% of production costs.
VASEP mentioned that this new policy resolves long-standing classification issues that had excluded seafood processors from incentives, helping reduce costs, improve export competitiveness, and support sustainable sector growth.
In 2025, Vietnam produced approximately 10 million metric tons of seafood comprising of 40% from the sea (wild capture) and 60% from aquaculture. It exported more than US$11 billion worth of seafood in the same year.
