Vietnam Announces Corporate Income Tax Reduction Plan
Vietnamese Prime Minister, Nguyen Xuan Phuc, has announced plans to reduce Vietnam’s corporate income tax (CIT) in a recent speech. Phuc’s announcement, made at the GMS Business Summit in late March, remains limited in detail but is widely expected to follow draft legislation issued by Vietnam’s Ministry of Finance (MoF) in August of 2017.
Proposed CIT reductions
The MoF’s current draft on SME tax reductions from 2017 details two reduced rates of CIT that are to be applied in lieu of Vietnam’s prevailing CIT rate of 20 percent.
- 15 percent: applied to micro enterprises
- 17 percent: applied to small enterprises
Proposed CIT reductions
The MoF’s current draft on SME tax reductions from 2017 details two reduced rates of CIT that are to be applied in lieu of Vietnam’s prevailing CIT rate of 20 percent.
- 15 percent: applied to micro enterprises
- 17 percent: applied to small enterprises
Proposed CIT reductions
The MoF’s current draft on SME tax reductions from 2017 details two reduced rates of CIT that are to be applied in lieu of Vietnam’s prevailing CIT rate of 20 percent.
- 15 percent: applied to micro enterprises
- 17 percent: applied to small enterprises
This is an exerpt from an article appearing in Vietnam Briefing, a subsidiary of Dezan Shira & Associates. For the latest economic, regulatory and business news from Vietnam, visit vietnam-briefing.com.