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Vietnam to Provide Further Tax Reductions for 2021 Due to COVID-19

|Proposed Changes|Vietnam
Vietnam

Vietnam's Ministry of Finance has drafted a resolution to provide further tax reductions for 2021 due to the ongoing effects of the COVID-19 pandemic, which must be submitted to Vietnam's National Assembly for approval. The resolution provides a 30% reduction in corporate income tax for SMEs, similar to the reduction provided in 2020. Further, a 50% income tax reduction would be provided for bu…

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