Workers at a textile factory in HCM City. There has been a sharp fall in demand for Vietnamese textile products in traditionally large markets such as the EU and the US, with the number of orders reduced by half in the last quarter of 2020. —VNA Photo
HANOI: The Government's 30 per cent corporate income tax cut was a step in the right direction but it could have been more inclusive by offering support to small businesses that were in desperate need of cash due to the difficulties caused by the COVID-19 pandemic, said business leaders and industry experts.
The tax cut, signed into effect on September 25 for businesses with revenue under VNĐ200 billion (US$8.8 million) in the 2020 financial year, has been widely welcomed by the business community.
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