Newly established SMEs are exempt from income tax for the first 3 years; businesses transitioning from household businesses to corporate models are exempt for the first 2 years.
The goal for 2030 is to have 2 million active enterprises, with 50 state-owned enterprises to be included in the list of the top 500 largest enterprises in ASEAN, and 1 to 3 enterprises to be listed among the top 500 largest enterprises globally.
Business households with annual large revenues, exceeding VND3 billion (nearly $114,000) for two consecutive years, will be subject to a personal income tax rate of 17%.
The application of the Vietnam Blockchain Multichain Service Network will enable the deployment of applications such as digital identity, digital assets, smart contracts, traceability, and interconnected data.