Businesses having objective difficulties and having paid the original tax debt prior to December 31, 2014 shall be forgiven of fine for late payment of tax incurred prior to July 01, 2013 is the plan of the Government at the Resolution No. 63/NQ-CP dated August 25, 2014 of the Government on tax solutions to remove problems and difficulties and promote the business development.
At the same time, at this Resolution, the Government also allows businesses may declare and be deducted the input VAT in case of having no non-cash payment voucher as the time of payment under contract is not du; income of businesses from the implementation of new investment projects making products named in the List of industrial products given priority for development will receive the tax rate of 10% in 15 years and be exempted from tax in 04 years and reduced by 50% of tax to be paid in 9 subsequent years.
Application of tax rate of 20% in 2014 and 2015 for businesses operating in the agricultural regularly employing over 300 laborers and implementing the exclusivity of harvested products for laborers not in the difficult or extremely difficult social-economic areas. From January 01, 2016, the income of such businesses is subject to the tax rate of 17%.
For individuals, the Government also has many support policies and preferential on tax. In particular, for transfer of real estate, individuals may choose method of calculation and tax payment by 25% on income of each transfer or 2% on selling price of each transfer.
Exemption from personal income tax for income from salary or wage of Vietnamese laborers as seamen working for foreign carriers or Vietnamese carriers of international transport; exemption from personal income tax for income from boat owners from the supply of direct services for offshore fishing activities…
This Law takes effect on January 01, 2015
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