Tin mới
Tax incentives barred by WTO (13/03)
06/08/2010 - 19 Lượt xem
Prior to Viet Nam's accession to the WTO in 2007, enterprises in industrial and export processing zones with a certain proportion of their production output intended for export had been eligible to enjoy corporate tax preferences.
Under these preferences, for instance, a firm that exported more than 50 per cent of its products enjoyed a 20 per cent corporate tax rate, compared to the prevailing rate of 28 per cent.
Eliminating the tax preferences, while bringing the nation into compliance with the WTO, would also dishonour commitments made to specific investors.
Firms to enjoy preferences
An official letter acknowledged this by reminding firms which have lost tax incentives that they are still entitled to enjoy other lawful preferences to which they are already eligible for projects in industrial and export - processing zones, in poor or remote areas, or which create jobs for a large number of employees.
The firms can opt to enjoy preferential policies that the country was applying either at the time it set up business in Viet Nam or at the time of Viet Nam's WTO accession.
Except for apparel enterprises, firms that were granted investment licences before the country's WTO accession and which were enjoying preferential corporate tax treatment based on export ratios would continue to enjoy the tax incentives, but only until the end of 2011.
Source: VietNamNet/Viet Nam News
