Under the new support package that the Ministry of Finance is working on, all business households and individuals would enjoy a 50% reduction in payable tax arising from production and business activities in the third and fourth quarters of 2021.

With the current outbreak still not entirely controlled, the government stands at a complicated crossroads as it needs to choose between further state budget security and continued support for the business community.

In the first quarter of 2021, the number of businesses withdrawing from the market was higher than the number of newly established ones. The Covid-19 pandemic continues to affect production and business activities in Vietnam.

To support small businesses affected by the Covid-19 pandemic, HCM City authorities have instructed traditional markets to reduce their rents by 50 per cent for six months.

The National Assembly on June 19 passed a resolution on reducing corporate income tax in 2020 for enterprises, cooperatives, public non-production agencies and other organisations, with 91.1 percent of votes.

Authorized by the prime minister, Minister of Finance Dinh Tien Dung on June 11 submitted a draft resolution to the National Assembly (NA) to offer a 30% corporate income tax cut for small businesses and cooperatives in 2020.

The Ministry of Finance has proposed that the Government reduce corporate income tax by 30% for small and micro enterprises in 2020 to help them overcome difficulties caused by the Covid-19 pandemic.

Instead of following procedures to become nvestors, foreign enterprises are preferring to ‘take a shortcut’ by taking over Vietnamese businesses, which allows them to penetrate the market more quickly.

The COVID-19 pandemic is a huge challenge for businesses irrespective of sector and size in all regions and countries, including Vietnam.

The Ministry of Finance has rejected several proposals to reduce taxes to help revive production and trade and support businesses affected by Covid-19.

The tourism and service industry in Danang is expected to suffer losses of  US$30.4 million due to strong decreases among key tourist markets in the two months since the coronavirus (Covid-19) outbreak in Wuhan, China.

The latest Finance Ministry proposal to reduce income tax levels from seven to five will significantly benefit those earning below VND10 million (US$450) per month.

 VietNamNet Bridge – Law makers yesterday (Sept 15) discussed the Government’s proposal on further tax reduction and exemption for agricultural land use.

 VietNamNet Bridge – Viet Nam spent US$1.1 billion on auto imports during the first 10 months of the year, nearly doubling 2013's figure and registering the highest level over the last five years.

 VietNamNet Bridge – Several types of vehicles will enjoy import tariff cuts beginning next year in line with Viet Nam's commitment to the World Trade Organisation (WTO) on tax reduction.

 VietNamNet Bridge – The Ministry of Finance (MOF) has proposed to apply the preferential corporate income tax rate of 10 percent to press agencies from January 1, 2014.

 VietNamNet Bridge – A series of big enterprises, the biggest cheeses in the national economy, have one after another asked for the permission to delay the tax payment or reduce tax rates.

VietNamNet Bridge – The Ministry of Culture, Sports and Tourism has sent a request to the Prime Minister asking for a reduction of 50 percent on Value Added Tax and 50 percent on Income Tax for this year, to help businesses