Tag: tax exemption

Currently, business households and individuals with an annual revenue below VND100 million (nearly $3,800) in a calendar year are exempted from revenue tax.

The regulation aimed at encouraging household firms to establish businesses.

The Ministry of Finance has proposed extending four periods, from June to September, for the payment of special consumption taxes on domestically-manufactured or assembled cars, with such support costing up to VND11.4 trillion ($497.23 million) in total.

Taxes on business households incurred in the second half of 2021 are to be exempted, an online training course held by the General Department of Taxation heard. Exempted taxes include personal income tax, value added tax, special consumption tax, natural resources tax, and environmental protection tax.

A proposal has been made to extend the tax incentive program for domestically-manufactured and assembled cars beyond 2022. The program will continue to maintain a 0 per cent tax rate on imported auto components, and at the same time amend and supplement a number of regulations relating to emissions, localization ratios, preferential consideration periods, and output.