NEWSLETTER SEPTEMBER 2020
Corporate Income Tax (CIT) Regulations in details about 30% CIT reduction for fiscal year 2020 On 25th September 2020, the Government issued Decree No. 114/2020/ND-CP which gives details for the Resolution No. 116/2020/QH14 by the National Assembly about CIT payable of year 2020, with the following contents: – CIT payable in the fiscal year 2020 by companies whose total revenue in 2020 does not exceed VND 200 billion shall be reduced by 30%. – The total revenue which is the basis for determination of eligibility for CIT reduction is the total revenue in the fiscal year 2020, including revenue from...