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VIETNAM: SME Corporate Income Tax to be Cut to 17% from 2017

The government is planning to reduce corporate income tax (CIT) from 20% to 17% for SMEs from 1 January 2017. Any business with a total annual revenue of less than VND 20 billion (US$885,936) will qualify for the preferential taxation for a period of four years.[1] 

The upcoming legislation, which is being drafted by the National Assembly, forms part of the government’s plans to boost the competitiveness of SMEs in Vietnam. For more details, see VIETNAM: Government Looks to Nurture SMEs Through Tax Incentives and Preferential Treatment.

[1]  Vietnam General Department of Taxes official website

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