Latest News about tax reduction
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.
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.
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.
The COVID-19 pandemic is a huge challenge for businesses irrespective of sector and size in all regions and countries, including Vietnam.
The Ministry of Finance has rejected several proposals to reduce taxes to help revive production and trade and support businesses affected by 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.