Vietnam approves 30% corporate income tax reduction

Businesses with income of no more than VNĐ200 billion (US$8.58 million) a year are eligible for 30 per cent corporate income tax reduction this year. — VN/ANN

HANOI (Vietnam News/ANN): The Government has decided to implement a 30 per cent corporate income tax (CIT) cut for certain businesses for the 2020 financial year.

Vietnam's National Assembly on June 19 ratified the Government’s proposal to cut corporate income tax by 30 per cent.