HÀ NỘI — The Ministry of Finance proposes preferential tax rates of 15 per cent and 17 per cent for enterprises with revenue under VNĐ3 billion (US$115,000) and VNĐ3-50 billion per year, respectively.

The proposal is included in the ministry’s draft decree guiding the Law on Corporate Income Tax, which has recently been submitted to the Government.

The goal of the draft is to complete the corporate income tax policy system, create favourable conditions for enterprises to fulfill their tax obligations and at the same time ensure Việt Nam's tax collection rights in accordance with international practices.

The draft decree regulates taxpayers, including foreign enterprises without a permanent establishment in Việt Nam but generating income in Việt Nam through e-commerce or digital platforms.

Besides taxpayers, the draft also clearly defines taxable income and tax exemption, basis and method of tax calculation, taxable revenue, deductible and non-deductible expenses and tax incentive policies.

According to the ministry, the process of drafting the decree was carried out in accordance with legal regulations. The ministry collected opinions from ministries, localities, organisations and individuals. After receiving the appraisal opinions of the Ministry of Justice, the ministry completed the draft decree to submit to the Government. — BIZHUB/VNS