Tax procedures for household businesses to be simplified

Tax procedures for household businesses to be simplified

The Ministry of Finance is finalising the revised Law on Tax Administration, aiming to simplify procedures and increase voluntary compliance.
CIT eligibility may help pull in investment

CIT eligibility may help pull in investment

Many enterprise owners seek to be made eligible for tax incentives under new legislation, as part of the country’s efforts to lure in more funding and expand production.
CIT specifics address smaller firms

CIT specifics address smaller firms

Hundreds of thousands of micro- and small-sized enterprises in Vietnam will be entitled to a decrease in corporate income tax from this October, meaning more opportunities to ameliorate their competitiveness.
Minister of Finance: Supporting business development by both institutions and resources

Minister of Finance: Supporting business development by both institutions and resources

National Assembly deputies discussed solutions to support businesses and encourage the private sector to participate in infrastructure investment on June 18.
Feedback welcomed for upcoming tax law changes

Feedback welcomed for upcoming tax law changes

Next year and the following year, there are important amended tax laws coming into effect on the VAT, corporate income tax (CIT) and special sales tax (SST), which are of concern to the businesses and those affected.
Calculation of top-up payable under Pillar 2 global minimum tax

Calculation of top-up payable under Pillar 2 global minimum tax

The Vietnam Association of Foreign Invested Enterprises and the International Tax and Investment Centre have held a workshop on the global minimum tax.
Crucial small business arena to receive reduced CIT boost

Crucial small business arena to receive reduced CIT boost

A reduction in corporate income tax is expected to materialise for smaller enterprises in Vietnam, helping them improve competitiveness.
Vietnam envisages GMT application by early 2024

Vietnam envisages GMT application by early 2024

Deputy general director of the General Department of Taxation Dang Ngoc Minh delves into Vietnam's application of the global minimum tax (GMT) scheme from 2024.
Exporters being stifled by VAT tweaks

Exporters being stifled by VAT tweaks

The constant changes of requirements for verification of records and invoices are being called too challenging for exporters, with businesses complaining that VAT refund procedures are becoming more baffling.
Banking organisations seek VAT reduction addition

Banking organisations seek VAT reduction addition

The Vietnam Banks Association has proposed a 2 per cent VAT reduction for the entire banking sector, which is currently excluded from the list of sectors entitled to the tax cut.
Businesses should proactively respond to GMT

Businesses should proactively respond to GMT

The GMT rate will enable Vietnam to switch businesses to preferential status to retain overseas investors, while also supporting the development of local SMEs.
KPMG assists businesses in tackling tax audit and inspection issues

KPMG assists businesses in tackling tax audit and inspection issues

KPMG in Vietnam launched the Tax & Legal 2022 programmes to support businesses in tax auditing and inspection in 2022-2023.
Keeping an eye on the economic dangers still ahead

Keeping an eye on the economic dangers still ahead

It has been nearly three months since Vietnam implemented a VAT reduction from 10 per cent to 8 per cent with Decree No.15/2022/ND-CP dated January 28 on prescribing tax exemption and reduction, together with a corporate income tax (CIT) deduction for companies.
Upcoming incentives create space for tech-led projects

Upcoming incentives create space for tech-led projects

New regulations on special investment incentives have been unveiled to facilitate more high-tech funding in Vietnam, giving the country a new tool to lure quality foreign investment and retain investors for the long term.
Ministry proposes 30 percent decrease in 2021 corporate income tax

Ministry proposes 30 percent decrease in 2021 corporate income tax

The Ministry of Finance (MoF) is proposing a 30 percent reduction in the corporate income tax which enterprises must pay in 2021 in a draft resolution on budget collection solutions which is to be submitted to the National Assembly’s Standing Committee for approval.
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