If the National Assembly approves the Government's proposal, enterprises will benefit from corporate income tax and value-added tax cuts by 30%.
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.
The Ministry of Economy and Finance has issued a prakas introducing new rules and procedures governing value-added tax (VAT) on goods and services provided via e-commerce.
The Ministry of Economy and Finance’s General Department of Taxation (GDT) collected $1.90927 billion in taxes in the first eight months of 2021, down by $151.3 million or 10.60 per cent from the same period last year.
Cambodia is committed to harnessing digitalisation for better coordination in tax administration, as a jurisdiction that subscribes to China’s Belt and Road Initiative (BRI), according to a General Department of Taxation (GDT) press release issued on September 12.
Representatives of active U.S. businesses in Vietnam called on the local government to provide them with assistance in administrative procedures, COVID-19 vaccine access, and taxes during a meeting with Prime Minister Pham Minh Chinh this weekend.
The Ministry of Finance is considering limiting the import of low-value packages through e-commerce platforms to close a suspected loophole.