corporate income tax

Update news corporate income tax

The taxation body needs to ‘nurture sources of revenue’ rather than bleed businesses dry, businesspeople say.

Amended regulations on cap on loan interest deductions cause concern

The new decree, according to experts, has yet to fully solve the inadequacies of the old regulation on the loan interest deductibility cap.

Tax cut welcome but not enough: businesses

The Government's 30% corporate income tax cut was a step in the right direction but it could have been more inclusive by offering support to small businesses that were in desperate need of cash due to the difficulties caused by the COVID-19 pandemic.

Vietnam approves 30% CIT reduction

The Government has decided to implement a 30 per cent corporate income tax (CIT) cut for certain businesses for the 2020 financial year.

Corporate income tax reduction comes into effect

Resolution 116/2020/QH14 granting a reduction of 30 per cent on corporate income tax (CIT) for eligible enterprises officially came into effect on Monday.

 

Legislature adopts resolution on reducing corporate income tax

The National Assembly on June 19 passed a resolution on reducing corporate income tax in 2020 for enterprises, cooperatives, public non-production agencies and other organisations, with 91.1 percent of votes.

Resolutions on highway projects, corporate income tax cut approved

The National Assembly on Friday approved a resolution that will turn three public private partnership (PPP) sub-projects of the North-South Highway to public-invested.

 

Smaller firms to land on tax cushion

Over 700,000 micro- and small-sized enterprises in Vietnam could receive a hefty reduction in corporate income tax payable this year, while more than one million individual taxpayers could be beneficiaries of personal income tax deductions.

Ministry proposes slashing corporate income tax by 30% for small, micro businesses

The Ministry of Finance has proposed that the Government reduce corporate income tax by 30% for small and micro enterprises in 2020 to help them overcome difficulties caused by the Covid-19 pandemic.

Tax cuts proposed for SMEs to accelerate growth after COVID-19

The Ministry of Planning and Investment has asked for corporate income tax (CIT) to be cut for small and medium-sized enterprises (SMEs) by half this year in an effort to boost growth when the COVID-19 pandemic eases.

93% enterprises to benefit from cut in corporate income tax

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.

 

Deadlines for tax and land use fee payments extended

Prime Minister Nguyen Xuan Phuc on April 8 approved Decree No 41/2020/ND-CP on the extension of deadlines for tax and land use fee payments to support businesses suffering from the COVID-19 pandemic.

Payment deadline extension proposed for over $3 bln in taxes

The Ministry of Finance has proposed the payment deadlines for $3.4 billion in taxes be extended to support enterprises, business households and individuals doing business that are directly affected by COVID-19 pandemic.

Coca Cola forced to pay tax arrears, taxation agencies urged to find more violators

Economists, applauding the decision to impose fines and force Coca Cola to pay tax arrears, totaling VND821 billion, said it is necessary to deal with foreign invested enterprises that evade tax and conduct transfer pricing.

Non-state enterprises dominate V1000 biggest taxpayers in 2018

The General Department of Taxation of Vietnam (GDT) on Wednesday announced the list of 1,000 highest taxpayers (V1000) in Viet Nam in 2018 which contributed 60.3 per cent of total corporate income tax.

 

Thailand approves new incentive packages to boost foreign investment

Thailand’s Board of Investment (BOI) on September 20 adopted a set of incentive measures to attract foreign businesses’ investment in the country.

Ministries argue about gov't oversight of Uber

VietNamNet Bridge - Management agencies are continuing to argue about how to collect taxes from Uber. 

Enterprises relish low corporate income tax

A recently-released World Bank report showed that Vietnam’s effective corporate income tax rate stands at 15.7 percent, proving to be more attractive than Singapore (17%), Indonesia (16.7%), Thailand (17.9%) and Malaysia (21%).

Assembly cuts corporate income tax

 VietNamNet Bridge – National Assembly deputies yesterday, June 19, adopted four laws, one of them will regulate a lower corporate income tax from next year.

Coca Cola denies the charges on transfer pricing

Irial Finan, Vice President of Coca Cola global, affirmed that Coca Cola Vietnam is not guilty of the charges on illegal transfer pricing.