Ho Chi Minh City wants tax reduction for Covid-affected businesses

A worker at a steel plant in HCM City. The city wants the Government to cut taxes to support companies affected by the Covid-19 pandemic. — courtesy of tuoitre.vn

HO CHI MINH CITY (Vietnam News/Asia News Network): The HCM City People’s Committee has made several suggestions for a Ministry of Finance decree to support businesses and individuals affected by the Covid-19 pandemic, including ensuring bank lending rates are no more than 2 per cent higher than deposit interest rates.

In a document it sent to the Government, it also suggested reducing corporate income tax, value added tax and land rents, extending tax payment deadlines and subsidising interest.