SMEs enjoy 30 percent tax windfall (15/01)
06/08/2010 - 19 Lượt xem
SMEs that have charter capital of VND10 million or less and a maximum of 300 employees will be eligible for this reduction in Corporate Income Tax (CIT), beginning in the fourth quarter of 2008 and lasting throughout the whole of 2009.
SMEs that qualify for other CIT benefits would also be eligible for this new reduction as long as they meet all of the requirements to do so.
A circular, dated January 13, stipulated the CIT rescheduling period for these enterprises.
The Finance-Monetary Department of the Ministry of Planning and Investment estimated the total quarterly CIT revenue at VND170 trillion. A cut of 30 percent will lead to quarterly losses of some VND20 trillion in tax revenue from the State budget.
Source: VNA
