Hanoi, Vietnam, Jan. 19 -- Specifically, Decree 20 regulates the policy of corporate income tax (CIT) exemption for three years for SMEs registering for the first time, specifically regulated in Clause 3, Article 7.
The fresh tax policy is expected to support small and medium-sized enterprises, especially startups, reduce financial pressure, have more resources to reinvest, expand production and business, and improve competitiveness in the early stages of operation.
Accordingly, SMEs registering for the first time will be exempt from corporate income tax for a period of three years, from the time of being granted the first Business Registration Certificate.
The tax exemption period is calculated continuously, starting from the first year...