Vietnam Briefing News

Tax Update: Vietnam Gov’t Approves Amendments to CIT Law

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In an effort to boost investment in Vietnamese businesses and to support struggling enterprises, Vietnamese lawmakers have approved the Government’s proposal to reduce the current general corporate income tax (CIT) rate from 25 percent to 23 percent.

Vietnam Reduces Corporate Income Tax to 23 Percent

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Jan. 29 – The Vietnamese Ministry of Finance finished drafting its Corporate Income Tax Law last week in a plan to cut current rates from 25 percent down to 23 percent. Corporate income tax (CIT) rates have been adjusted several times over the past nine years: the 2003 CIT law of 2004 decreased rates from […]

New Resolution to Postpone Payment of VAT and CIT

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Jan. 18 – The Vietnamese government issued Resolution No. 02/NQ-CP on January 7, 2013, introducing a series of measures aimed at removing difficulties for business production, increasing market support, and resolving bad debt. The tax measures introduced in this Resolution will assist those enterprises and individuals facing economic difficulties by postponing the payment of value-added […]

Taxable Income from Interest on Deposits in 2012

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By Vo Thi Bich Hong Feb. 17 – From March 1, 2012, income from interest on deposits and loans – including interest on deposits at credit institutions, interest on loans in any form as prescribed by Law, credit guarantee fee, and other charges – will be subject to corporate income tax. This is specified in […]

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