Vietnam: Tax support measures for businesses and individuals (COVID-19)

Tax measures to support businesses and individuals that have been economically affected by coronavirus

Tax support measures for businesses and individuals

Guidance—Resolution 406/NQ-UBTVQH15 (19 October 2021)—includes certain measures to support businesses and individuals that have been economically affected by the coronavirus (COVID-19) pandemic.

The tax support measures include:

  • A 30% reduction in the amount of corporate income tax payable in 2021 (for certain enterprises)
  • A 30% reduction of the rate of value added tax (VAT) from 1 November 2021 to 31 December 2021 for certain industry sectors (including transportation, hospitality, travel and tour businesses, publishing, film and television services, arts and entertainment, libraries and museums, and sports and entertainment but specifically excluding software and online services)
  • An exemption from income tax, VAT, and certain other taxes for “business households” and individuals in districts affected by the COVID-19 pandemic in 2021
  • Relief from late-payment interest

Read an October 2021 report [PDF 208 KB] prepared by the KPMG member firm in Vietnam

 

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