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TAX REDUCTION POLICIES AND SUPPORT FOR ENTERPRISES IN 2022 - 2023
(RESOLUTION NO. 43/2022/QH15 OF NATIONAL ASSEMBLY)

TAX REDUCTION POLICIES AND SUPPORT FOR ENTERPRISES IN 2022 - 2023
(RESOLUTION NO. 43/2022/QH15 OF NATIONAL ASSEMBLY)

VIVA BUSINESS CONSULTING là công ty tư vấn doanh nghiệp được tín nhiệm bởi hằng ngàn khách hàng danh tiếng từ năm 2006. VIVA cung cấp nền tảng quản lý toàn diện và nguồn lực thực thi theo cách kết hợp đồng thời của: Luật pháp và thủ tục hành chính trong kinh doanh – Quản lý thuế và kế toán – Quản trị quan hệ lao động – Quản trị tài chính doanh nghiệp – Quản trị và kiểm soát nội bộ. Năng lực của chúng tôi giúp khách hàng lường trước các rủi ro, tối ưu chi phí, kiến tạo lợi thế kinh doanh.

VIVA is a business consulting company, specializes in business compliance procedures according to local business laws and regulations since 2006. VIVA has been continuously trusted by thousands of well-known clients since 2006. We are creating added value for clients by offering one-stop business platform with exclusive and tailored-made services related to market entry and mandatory business compliances. We keep our client’s good standing in lawful and optimal manners whenever they are working and doing business in Vietnam.

TAX REDUCTION POLICIES AND SUPPORT FOR ENTERPRISES IN 2022 - 2023

For the objectives of rapidly recover and develop production and sale activities, promote growths, prioritize key sectors, reduce costs, assist cash flow, facilitate an active stand, create optimal conditions for enterprises, economic organizations, and the general public… On January 11, 2022, the Standing Committee of the National Assembly of Vietnam issued Resolution No. 43/2022/QH15.

VIVA Business Consulting would like to update some important highlights that may benefit your business:

TAX REDUCTION, EXEMPTION POLICIES:

  1. Reduce 2% of VAT in 2022 for goods and services currently subject, from 10% to 8%, except for the following goods and services: telecommunication, financial activities, banking activities, securities, insurance, trading of real estate, metal, precast metal products, mining products,coke mining, refined oil, chemical products, goods and services subject to excise tax;
  2. Allow donations and sponsors made by enterprises and organizations for COVID-19 epidemic control operation in Vietnam to be included in deductible expenses when calculating taxable corporate income for the tax period of 2022.

DEVELOPMENT INVESTMENT POLICIES:

Increase development expenditure from state budget of up to VND 176 thousand billion, focusing in 2022 and 2023.

Regarding social security, labor, and employment sectors:

  1. Grant Vietnam Bank for Social Policies (VBSP) up to VND 5 thousand billion, including interest rate cover and management fees of VND 2 thousand billion in order to implement preferential credit policy within the Program; support interest rate of up to VND 3 thousand billion for debtors of policy credit programs with applicable interest rate of more than 6%/year;
  2. Invest up to VND 3,15 thousand billion in new construction, renovation, upgrade, expansion, and modernization of social assistance establishments, training facilities, vocational training facilities, and employment centers;

Regarding support for enterprises, cooperatives, and household businesses:

  1. Support interest rate (2%/year) of up to VND 40 thousand billion via commercial institution system for important sectors, enterprises, cooperatives, and household businesses capable of repaying debt and recovering; grant loan for renovation of old apartment buildings, construction of social houses, and houses for purchase, rent, and lease purchase;
  2. Grant Tourism Development Assistance Fund up to VND 300 billion in charter capital;

 Other fiscal policies:

  1. Support for rent of workers having labor relations, living in rental apartments, working in industrial parks, export-processing zones, and key economic zones;
  2. Increase the limit on sovereign guarantee for domestically issued bonds for VBSP by up to VND 38,4 thousand billion to grant loan in order to settle jobs; students; non-public preschools and primary schools; individuals taking loans for purchase or lease purchase of social houses, constructing new, renovating, or repair houses in accordance with policies on social houses; implement National target program regarding socio-economic development in ethnic minority regions and mountainous regions of the period of 2021 – 2030.

This Resolution comes into force from January 11, 2022 to December 31, 2023.

Please contact with our expertise for tailored counseling on your own cases. We will keep updating any related news and regulations to your subscribed email and hope you can find useful things for your business in Vietnam.

ABOUT VIVA BUSINESS CONSULTING

VIVA is the local expertise for local business compliance procedures, has been trusted by thousands of foreign investors, multinational companies from Europe, Japan, Singapore, India, Korea, USA… for the required business compliance procedures by local laws and regulations since 2006.

Thanks for consistent of practice expertise in Business laws - Employment relations – Tax and accounting – Corporate finance – Corporate services, VIVA has been successfully providing service for thousands of leading companies in such industries: Garment, energy, pharma, advertising, agricultural…

VIVA keeps its signature by offering one-stop business platform with regard to market entry and the mandatory business compliances. We ensure for our client’s good standing, in lawful and optimal manners whenever they are working and doing business in Vietnam.

Thanks to a unique combination of local expertise and global experiences, VIVA BUSINESS CONSULTING is the one-stop solution for the required compliance procedures in Vietnam for foreign investors and experts. We are still here since 2006s because of our thousands of satisfied clients and our employees. Our staying power is a testament to the professional resources, and so much more.

 

VIVA not only manage business required procedures by laws but firstly places client’s compliance and good standing, in the optimal methods when offering any solution, and integrated with our intensive resources that allow us to prevent most of the risks in advance, create more benefits, advantages and business inspiration for entrepreneurs.

The insights and consistent backgrounds in Business Laws – Accounting and Corporate Finance – Tax Management – Labor Relations and Payroll – Serectarial and consistent with our exclusive standard operation processes, consisting of consultation – implementation – pratice operation help us fully protect client interests as one-stop solution.

YOU WILL RECEIVE

“If you ask any successful businessperson, they will always have had a great mentor at some point along the road.”

 

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