tax reduction

Update news tax reduction

Enterprises which deliberately delay the reduction of the value added tax (VAT) from 10% to 8% will face heavy sanctions, according to the General Department of Taxation.

Business households and individuals expected to enjoy 50% tax reduction

Under the new support package that the Ministry of Finance is working on, all business households and individuals would enjoy a 50% reduction in payable tax arising from production and business activities in the third and fourth quarters of 2021.

Multitude of options on table for further tax interventions

With the current outbreak still not entirely controlled, the government stands at a complicated crossroads as it needs to choose between further state budget security and continued support for the business community.

Alarming statistic: 13,000 businesses withdraw from market each month

In the first quarter of 2021, the number of businesses withdrawing from the market was higher than the number of newly established ones. The Covid-19 pandemic continues to affect production and business activities in Vietnam.

Shopkeepers in HCM City traditional markets want tax cuts for their survival

To support small businesses affected by the Covid-19 pandemic, HCM City authorities have instructed traditional markets to reduce their rents by 50 per cent for six months.


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.

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.


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.

Vietnam businesses eyed by foreign investors

Instead of following procedures to become nvestors, foreign enterprises are preferring to ‘take a shortcut’ by taking over Vietnamese businesses, which allows them to penetrate the market more quickly.

Businesses seek tax reduction to foster recovery after pandemic

The COVID-19 pandemic is a huge challenge for businesses irrespective of sector and size in all regions and countries, including Vietnam.

Finance Ministry rejects tax reduction proposals

The Ministry of Finance has rejected several proposals to reduce taxes to help revive production and trade and support businesses affected by Covid-19.

Tax reduction could help businesses recover from Covid-19

The tourism and service industry in Danang is expected to suffer losses of  US$30.4 million due to strong decreases among key tourist markets in the two months since the coronavirus (Covid-19) outbreak in Wuhan, China.

Tax reduction for lower incomes

The latest Finance Ministry proposal to reduce income tax levels from seven to five will significantly benefit those earning below VND10 million (US$450) per month.

NA mulls more agricultural tax exemption, reduction

 VietNamNet Bridge – Law makers yesterday (Sept 15) discussed the Government’s proposal on further tax reduction and exemption for agricultural land use.

Automobile imports surge to five-year high

 VietNamNet Bridge – Viet Nam spent US$1.1 billion on auto imports during the first 10 months of the year, nearly doubling 2013's figure and registering the highest level over the last five years.

VN to abide by WTO rules on vehicle tariff reductions

 VietNamNet Bridge – Several types of vehicles will enjoy import tariff cuts beginning next year in line with Viet Nam's commitment to the World Trade Organisation (WTO) on tax reduction.

Print newspapers may enjoy preferential corporate income tax

 VietNamNet Bridge – The Ministry of Finance (MOF) has proposed to apply the preferential corporate income tax rate of 10 percent to press agencies from January 1, 2014.

Big firms beg for tax reductions and pocket billions of dong

 VietNamNet Bridge – A series of big enterprises, the biggest cheeses in the national economy, have one after another asked for the permission to delay the tax payment or reduce tax rates.

Ministry requests tax reduction to boost tourism

VietNamNet Bridge – The Ministry of Culture, Sports and Tourism has sent a request to the Prime Minister asking for a reduction of 50 percent on Value Added Tax and 50 percent on Income Tax for this year, to help businesses