ex. Game, Music, Video, Photography

Vietnam considers $933 mln tax break

The government is considering a VND21.3 trillion ($932.66 million) tax break, including value-added and corporate income tax, to boost economic recovery after the fourth Covid-19 wave.

Ngày đăng: 17 tháng 9, 2021
Cập nhật: 21 tháng 1, 2023
Lượt xem: 322676599
Nguồn: vnexpress

The National Assembly is considering the government’s proposal to reduce VAT by 30 percent in the last three months this year.

Sectors set to be eligible for the tax break include transportation, accommodation, food and beverage, publishing, filmmaking, music production, entertainment and sports.

Vietnam applies a VAT of 10 percent on the price of most goods, and 15 percent on luxury items.

Government revenue is set to fall by VND5 trillion because of this tax break.

Minister of Finance Ho Duc Phoc said the tax break would benefit consumers as it reduces the amount of money they have to pay for goods and therefore could boost sales.

The government has also proposed a 30 percent tax break on corporate income tax if the business’ revenue this year is under VND200 billion and the figure had dropped from last year.

The second condition is given to ensure that businesses who are eligible for the tax break are truly impacted by Covid-19, Phoc said.

Vietnam applies a corporate income tax of 20-22 percent on annual revenue.

This tax break is set to reduce government revenue by VND2.2 trillion.

The government also proposed that individual and household businesses be eligible for zero personal income tax, VAT and other taxes in the third and fourth quarter this year.

This is set to reduce government revenue by VND8.8 trillion.

The government also wanted to scrap collecting fines in delays from paying taxes and land fees from businesses that had reported losses last year.

This is set to reduce government revenue by VND5.3 trillion.

Together these proposals are set to bring down government revenue by VND21.3 trillion.


Từ vựng liên quan

Tin tức liên quan

 Two gay men challenge Hong Kong ban on same-sex marriage
world 14/04/2021

Two gay men challenge Hong Kong ban on same-sex marriage

world | 187496638

Two gay men have launched separate legal bids to overturn Hong Kong’s ban on same-sex marriage, the first time the law has been challenged in court.

Vietnam records three new imported Covid-19 cases
news 14/09/2021

Vietnam records three new imported Covid-19 cases

news | 310246612

Three new Covid-19 cases confirmed Wednesday evening, from Russia and Angola, has taken the national tally to 1,144.

Indonesia accuses China of infringing waters
world 25/09/2021

Indonesia accuses China of infringing waters

world | 338706604

Indonesia protested on Monday against what it described as an infringement of its waters by a Chinese coast guard vessel near a disputed area of the South China Sea (Vietnam's East Sea) at the weekend, the foreign minister in Jakarta said.

 Screening: Vietnam the Movie + Eleven Men
travel-life 28/03/2021

Screening: Vietnam the Movie + Eleven Men

what-s-on | 131296675

Out of Frame (OOF! Fest)

Vietnamese midfielder set to trial for La Liga club
sports 13/09/2021

Vietnamese midfielder set to trial for La Liga club

football | 306476609

Nguyen Quang Hai is set to go for a La Liga trial in Spain, disappointing Thai clubs hoping to recruit him.

Army completes mercury cleanup at burned Hanoi light bulb warehouse
news 15/09/2021

Army completes mercury cleanup at burned Hanoi light bulb warehouse

news | 315746599

Detoxification of the Rang Dong Light Source and Vacuum Flask JSC warehouse in Hanoi that burned down recently was completed on Saturday.

  Apple senior exec leaves iPhone maker after remark in viral video
world 01/10/2022

Apple senior exec leaves iPhone maker after remark in viral video

world | 416986604

Apple Inc's Tony Blevins, a key player in the company's supply chain operations, is leaving the iPhone maker, the company confirmed on Thursday, without providing a reason.

Japanese retailer Muji set to enter Vietnam
business 13/09/2021

Japanese retailer Muji set to enter Vietnam

companies | 304736618

Japanese household products and apparel chain Muji plans to open its first outlet in Ho Chi Minh City early next year.

 Hanoi air pollution goes from very bad to much worse
news 19/03/2021

Hanoi air pollution goes from very bad to much worse

news | 12596671

The air pollution index soared to stratospheric levels in Hanoi on Monday and photos captured the smog that has blanketed the capital city.

Link Tài Trợ - Sponsored Links

Công Thức Vật Lý
Loading…