income tax

Update news income tax

Tax deadline should be delayed for businesses, said MoF

Businesses may have several additional months before they have to pay income tax and land use fees, said a proposal by the Ministry of Finance (MoF) to the Government.

Gov’t proposes reducing income tax by 30% for small firms

Authorized by the prime minister, Minister of Finance Dinh Tien Dung on June 11 submitted a draft resolution to the National Assembly (NA) to offer a 30% corporate income tax cut for small businesses and cooperatives in 2020.

 

Vietnam raises monthly taxable personal income threshold by 22%

With the new threshold in place, set to take effect from January 1, 2020 retrospectively, there would be more than 1 million people whose incomes are not taxable.

Vietnam jumps 23 places in economic freedom index

Vietnam jumped 23 places from last year to reach 58.8 points, ranking 105th place in the economic freedom index this year.

NA fear tax levy might legalise corrupted money

The National Assembly debate on the draft amendment to the anti-corruption law on Thursday was thrown into confusion as the deputies failed to agree on how to handle the suspicious unreported wealth of a public servant.

Three tax incentives for investment projects

 Circular 83/2016/TT-BTC governs in detail several cases subject to incentives as follows:•    New investment projects in economic zones and hi-tech zones ...

Finance Ministry drafts preferential income tax for SMEs

VietNamNet Bridge – The Ministry of Finance is drafting a proposal on corporate income tax applicable for small and medium-sized enterprises (SMEs) in the next five years. 

Tariff slashes cause foreign foods surge

 VietNamNet Bridge – Vietnam’s husbandry sector has begun to feel the heat from the ASEAN Economic Community establishment, expected to prompt a rise in foreign foodstuff imports and livestock investment.

Vietnam steps up removal of tariff barriers when joining AEC

 VietNamNet Bridge – The formation of the ASEAN Economic Community (AEC) on the last day of 2015, which saw a series of tariff and non-tariff barriers removed from doing business within the communit, has opened up a wider market

More hi-tech parks to go up in VN

 VietNamNet Bridge – Aside from Hanoi, HCMC and Danang, other localities governed by the central Government will develop hi-tech parks in the coming years in line with a decision signed by the Prime Minister on June 8.

Falling prices force many titanium plants to halt operations

 VietNamNet Bridge – Nearly 90% of titanium processing factories across the country have suspended operations due to falling titanium prices and high inventories, according to the Vietnam Titanium Association.

HCMC taxman to launch tax probes into 20 celebrities

 VietNamNet Bridge – The HCMC Department of Tax will open investigations into incomes of 20 celebrities in the entertainment sector in order to collect personal income tax for last year.

Overseas remittances free from income tax

 VietNamNet Bridge – Overseas remittances are now free from income tax, the State Bank of Viet Nam has confirmed on its website, following government directions to facilitate overseas Vietnamese sending money home.

Vietnam advances on global ICT map

 VietNamNet Bridge – The latest White Book on Viet Nam's Information and Communications Technology (ICT) outlook shows that it has become brighter on the global ICT map, despite the domestic economic downturn.

Low income earners to benefit from new laws

VietNamNet Bridge – Nine laws will come into force on July 1 after being passed by the National Assembly, aiming to streamline Vietnam's policies and offer support to those who need it most in the wake of ongoing economic difficulties.

Proposed income tax to have ‘major' impact on embattled offshore fishers

VietNamNet Bridge – Fisheries officials, economists and fishermen want an exemption from corporate income tax for offshore fishing businesses instead of a 10 per cent tax being imposed.