Vietnam Looks to Adjust Swath of Corporate Tax Rates, Incentives

Vietnam will conduct a review of its corporate income tax law, seeking to adjust a number of business tax rates and regulations for incentives.

A draft bill revising its corporate income tax has been submitted for comments to the National Assembly Standing Committee, the high committee of the Vietnamese legislature, the country’s tax department announced Wednesday.

Under the draft law, enterprises with total annual revenue of less than VND3 billion ($121,980) will be subject to a tax rate of 15%. Corporations with total annual revenue from over VND3 billion to VND50 billion will be subject to a tax rate of ...