The Vietnam corporate income tax rate will be reduced to 20% from 1 January 2016 (now 22%). For taxpayers with total revenue lower than VND 20 billion, the will be 17% effective 1 January 2016 (now 20% as of 1 July 2013). New guidelines published as Decree 218/2013/ND-CP (26 December 2013) have also been issued for determination of corporate income tax. These rules are effective from 15 February 2014, and apply for 2014 and subsequent tax years. The new regulations revise the corporate income tax treatment of Loss carry forwards, certain deductible expenses, and tax incentives.
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