Tax Payment

The latest news about Vietnam and Hanoi is updated as follows.

If the National Assembly approves the Government's proposal, enterprises will benefit from corporate income tax and value-added tax cuts by 30%.

Local firms have been hit hard by the fourth Covid-19 wave, and their efforts alone are insufficient to overcome this crisis.

This move may result in a more than US$5 billion reduction in the State's budget collection in 2021.

Foreign digital content providers in Vietnam have some payment options.

Such extension in delay of taxes and land rental fees payment is essential for the business community to continue its economic recovery process and ensure the realization of the 6.5% economic growth target in 2021.

The resolution would take effect after 45 days since the signing date and be applied for this year’s tax payment period.

The relief package is estimated at VND180 trillion (US$7.63 billion).