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REDUCTION OF CORPORATE INCOME TAX IN 2020

reduction - of - corporate - income - tax - in -2020

The conditions to be reduction in corporate income tax payable in 2020 (30% of total corporate income tax payable)

  • Regulated entities : (i) Enterprise is established under the laws of Vietnam, (ii) Organizations are established in accordance with the Law on Cooperatives, (iii) Public service providers are established in accordance with Vietnam’s law, (iv) Other organizations established in accordance with Vietnam’s law and earning income from business operation.
  • The total revenue of enterprises in 2020 does not exceed 200 billion Vietnam Dongs

The enterprises will calculate the reduction of the corporate income tax themselves when paying the Quarterly and the finalization of corporate income tax in 2020

Pursuant on the Resolution No. 116/2020/QH2014 of National assembly will be in force after 45 days from the June 19th, 2020 and applied for tax period in 2020.

reduction of corporate income tax in 2020

 


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