The Ministry of Planning and Investment (MPI) has proposed measures to support investment in hi-tech fields amid the global minimum tax regime.

The taxation body needs to ‘nurture sources of revenue’ rather than bleed businesses dry, businesspeople say.

The new decree, according to experts, has yet to fully solve the inadequacies of the old regulation on the loan interest deductibility cap.

The Government's 30% 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.

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

Resolution 116/2020/QH14 granting a reduction of 30 per cent on corporate income tax (CIT) for eligible enterprises officially came into effect on Monday.

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.

The National Assembly on Friday approved a resolution that will turn three public private partnership (PPP) sub-projects of the North-South Highway to public-invested.

Over 700,000 micro- and small-sized enterprises in Vietnam could receive a hefty reduction in corporate income tax payable this year, while more than one million individual taxpayers could be beneficiaries of personal income tax deductions.

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.

The Ministry of Planning and Investment has asked for corporate income tax (CIT) to be cut for small and medium-sized enterprises (SMEs) by half this year in an effort to boost growth when the COVID-19 pandemic eases.

About 700,000 enterprises are expected to enjoy a cut in corporate income tax (CIT) to between 15-17 per cent from July 1 this year, down from the current rate of 20 per cent.

Prime Minister Nguyen Xuan Phuc on April 8 approved Decree No 41/2020/ND-CP on the extension of deadlines for tax and land use fee payments to support businesses suffering from the COVID-19 pandemic.

The Ministry of Finance has proposed the payment deadlines for $3.4 billion in taxes be extended to support enterprises, business households and individuals doing business that are directly affected by COVID-19 pandemic.

Economists, applauding the decision to impose fines and force Coca Cola to pay tax arrears, totaling VND821 billion, said it is necessary to deal with foreign invested enterprises that evade tax and conduct transfer pricing.

The General Department of Taxation of Vietnam (GDT) on Wednesday announced the list of 1,000 highest taxpayers (V1000) in Viet Nam in 2018 which contributed 60.3 per cent of total corporate income tax.

Thailand’s Board of Investment (BOI) on September 20 adopted a set of incentive measures to attract foreign businesses’ investment in the country.

VietNamNet Bridge - Management agencies are continuing to argue about how to collect taxes from Uber. 

A recently-released World Bank report showed that Vietnam’s effective corporate income tax rate stands at 15.7 percent, proving to be more attractive than Singapore (17%), Indonesia (16.7%), Thailand (17.9%) and Malaysia (21%).