Vietnam Seeks to Cut Corp. Income Tax to 15-17% vs 20%: Media(1)

Vietnam’s finance ministry proposes cutting corporate income tax to 15%-17% versus the current 20% for small companies to help them expand business, Saigon Times newspaper reported, citing info from the ministry.

• The proposal includes a 15% income tax for businesses with annual revenue of less than 3b dong and a 17% tax for companies with revenue of less than 50b dong in the year prior to the tax cut: report
• Finance ministry estimates the tax reduction may reduce state revenue by about 12.6t dong per year: report
• The proposal will be discussed at the National Assembly meeting in October and ...