Vietnam: Businesses hail 3% corporate tax cut
Vietnam: Businesses hail 3% corporate tax cut
Tuesday, 16 August 2016 – Entrepreneurs are hailing a national plan to reduce corporate income tax for small- and medium-sized enterprises from 20 per cent to 17 per cent starting next year.
In a recent proposal submitted to the Government, the Ministry of Finance said businesses making less than VN?20 billion (US$893,000) in revenue per year would enjoy the lower tax rate for four years, from January 1, 2017.
This was among the incentives included in a draft resolution of the National Assembly on tax measures to help domestic business improve competitiveness as Vi?t Nam integrates into the global economy. Read More?