On the morning of June 19th, the National Assembly passed a resolution to reduce 30% of the income tax for businesses with revenue below 200 billion VND in 2020.
On the morning of June 19, the National Assembly passed a Resolution reducing 30% of income tax in 2020 for businesses with revenue under 200 billion VND.
The resolution was passed with an approval rate of more than 92%, takes effect 45 days after signing and applies to the 2020 tax period.
Thus, the National Assembly has removed the criterion on the number of employees paying insurance to ensure fairness for businesses that use many workers and added subjects entitled to a 30% reduction in corporate income tax for businesses with medium scale.
According to Chairman of the Finance and Budget Committee Nguyen Duc Hai, with the expansion of subjects eligible for tax reduction mentioned above, the reduction in State budget revenue in 2020 increased from VND 15,840 billion to about VND 23,000 billion compared to the Government's plan. submit.
Before the National Assembly voted, many opinions said that, in addition to reducing corporate income tax, there should be other solutions with great and direct effects to help businesses restore production and business.
Mr. Nguyen Duc Hai said that to support businesses, remove difficulties, promote production and business, and restart the economy to cope with the Covid-19 epidemic, the Government has proactively built and implemented a contract. A set of many solutions on fiscal, taxes, fees, charges, land rent... In which the solution package to extend tax and land rent payment deadlines is worth about 180,000 billion VND.
He said that in the future, the Government, ministries and branches will have more solutions to support businesses to overcome difficulties due to Covid-19.
