Update news CIT
The year 2020 is witnessing a wave of enterprises leaving the market after being hit hard by the Covid-19 pandemic.
Under the new regulation, by the end of the third quarter, enterprises have to estimate the amounts of tax of the fourth quarter and pay the amounts.
About 700,000 enterprises are expected to enjoy a cut in corporate income tax (CIT) to between 15-17 per cent from July 1 this year, down from the current rate of 20 per cent.
VietNamNet Bridge - The Ministry of Finance’s (MOF) recent proposals on raising many kinds of taxes and fees have been facing strong opposition from the public.
VietNamNet Bridge - The stock market has shown positive reactions to the disclosure of the government’s intention to slash the corporate income tax (CIT) from 20-22 percent to 15-17 percent.
In an effort to prevent involved parties from evading tax by inaccurately declaring profits from M&A deals, MOF plans to tax one percent on the transfer price, to be applied to businesses, and one percent on income, to be applied to individuals.
VietNamNet Bridge – The Ministry of Finance (MOF) is seeking approval to raise the VAT in 2019, raising concern among economists.
VietNamNet Bridge – Deputy Chairman of the National Assembly’s Committee on Financial and Budgetary Affairs Dinh Van Nha shared with VIR’s Manh Bon the Ministry of Finance’s latest proposals