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Vietnam: Businesses hail 3% corporate tax cut

  • Aug 16, 2016

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?