Real Persons
Exemption from income tax: Not declared. Withholding tax is 10% and is the final tax, but if held for more than 2 years, the withholding rate will be 0%. In addition, the amount of the VCIF investment can be deducted from the income tax base, provided that the amount of funds allocated to the VCIF in the relevant year does not exceed 10% of the declared income.
Legal Entities
Exemption from corporate tax: VCIF participation certificates are exempt from corporate tax, as are all other investment funds. In addition, the amount of the VCIF investment can be temporarily deducted from the corporate tax base, provided that the amount of the fund allocated in the relevant year does not exceed 10% of the declared income and the total fund amount does not exceed 20% of the equity. When the fund is disposed of, the deductions will be added to the tax base.