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.
CIT bonus dangled to lure high-tech groups

CIT bonus dangled to lure high-tech groups

Foreign-invested enterprises could be set to enjoy a relaxation in corporate income tax payments in Vietnam, if they pay enough attention to research and development as well as high technology.
Vietnam approves 30 pct corporate income tax reduction

Vietnam approves 30 pct corporate income tax reduction

The Government has decided to implement a 30 percent corporate income tax (CIT) cut for certain businesses for the 2020 financial year.
VEPR urges tax policies for FDI to be revised to prevent tax avoidance and evasion

VEPR urges tax policies for FDI to be revised to prevent tax avoidance and evasion

Vietnam needs to revise tax and land policies for foreign direct investment (FDI) companies to ensure a level playing field for businesses.
Smaller firms to land on tax cushion

Smaller firms to land on tax cushion

Over 700,000 micro- and small-sized enterprises in Vietnam could receive a hefty reduction in corporate income tax payable this year, while more than one million individual taxpayers could be beneficiaries of personal income tax deductions.
Social housing projects wait for incentives

Social housing projects wait for incentives

Demand for low-priced social houses and houses for long-term rent was high but incentive policies have not yet encouraged investors.
Deadlines for tax and land use fee payments extended

Deadlines for tax and land use fee payments extended

Prime Minister Nguyen Xuan Phuc on April 8 approved Decree No 41/2020/ND-CP on the extension of deadlines for tax and land use fee payments to support businesses suffering from the COVID-19 pandemic.
Gov’t gives green light for new corporate income tax proposal

Gov’t gives green light for new corporate income tax proposal

The Government has turned green light to the Ministry of Finance’s latest proposal on preferential corporate income tax rates for small and micro enterprises (SMEs).
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