Firms with revenue less than 200 bln VND enjoy 30 pct reduction in CIT
National Assembly (NA) Chairman Vuong Dinh Hue has signed for issuance a resolution of the NA Standing Committee on a number of solutions to support businesses and people affected by the COVID-19 pandemic. The resolution took effect on October 19.
Hanoi (VNA) - National Assembly (NA) Chairman Vuong Dinh Hue has signed for issuance a resolution of the NA Standing Committee on a number of solutions to support businesses and people affected by the COVID-19 pandemic. The resolution took effect on October 19.
Accordingly, the NA Standing Committee decided to reduce 30 percent of corporate income tax for enterprises whose revenue in 2021 is less than 200 billion VND (8.7 million USD) and experiencing a revenue reduction compared with that of 2019. The reduction is not applied for taxpayers who are newly established, merged or separated in 2020 and 2021 tax period.
The NA Standing Committee also agreed to exempt personal income tax, value added tax and other taxes in the third and fourth quarter of 2021 for individuals and households in pandemic-hit areas. Tax exemption does not apply to revenues from the provision of software products and services, video games, digital movies, digital music and advertising.
The value added tax for goods and services including transportation, food, accommodation services and those relating to tourism promotion will also be reduced from November 1 to December 31 this year.
The NA Standing Committee decided to exempt the fee for late payment arising in 2020 and 2021 for enterprises and organisations which incurred losses in 2020.
ﷺ The Government is assigned to continue reviewing and carrying solutions within its jurisdiction to support businesses and organisations severely affected by the COVID-19 pandemic to restore production and business./.
About 118 trillion VND (5.16 billion USD) worth of taxes, land rent, fees, and charges are expected to be reduced or have payment deadlines extended in 2021 to assist enterprises and people affected by the coronavirus pandemic.
The Ho Chi Minh City People’s Committee has made several suggestions for the Ministry of Finance’s decree to support businesses and individuals affected by the COVID-19 pandemic, including ensuring bank lending rates are no more than 2 percent higher than deposit interest rates.
The Government Office has instructed the Ministry of Planning and Investment, the Ministry of Finance, the Ministry of Transport and the State Bank of Vietnam to study a proposal by the Vietnam Aviation Business Association (VABA), in which the airline industry is to gain access to 25 trillion VND (over 1.1 billion USD) of zero-interest loans.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
The Prime Minister emphasised the significance of maintaining macroeconomic stability, controlling inflation, promoting growth, and improving the harmony between monetary and fiscal policies.
Petrovietnam will step up the development of new products and the expansion of international markets to reduce reliance on the domestic market. It also plans to optimise capital use, manage cash flow and costs, streamline operations, and enhance workforce quality to achieve its 2025 goals.
Vietnam has so far attracted 43,346 valid FDI projects with a total registered capital of 517.14 billion USD. The accumulated disbursed capital is estimated at nearly 331.46 billion USD, accounting for 64.6% of the total registered capital.
More than a product showcase, Vietfood & Beverage – Propack Vietnam 2025 is designed as a comprehensive ecosystem where businesses, experts, and consumers can share knowledge, explore technologies, and connect for collaboration.
Both sides expressed their hope that the outcomes of the discussion will continue to improve the efficiency of customs clearance activities at the customs clearance points and dedicated transport routes of the Huu Nghi – Youyi Guan international border gate pair.
The maximum retail price of E5 RON92 petrol has increased by 207 VND to 19,608 VND (0.75 USD) per litre while that of RON95-III rose by 234 VND to 20,074 VND per litre.
Illustrative image. (Photo: VNA) 
