On 27 October 2021, the Department of Taxation (GDT) published Decree No. 92/2021 / ND-CP of 27 October 2021, which contains implementing provisions for the application of Decision No. 406 / NQ-UBTVQH15 to provide additional tax assistance contains for companies affected by the COVID-19 pandemic. The most important measures include:

• In 2021, qualifying SMEs will have a 30% corporate tax reduction and the decree clarifies that the reduction will apply to the total income of the qualified taxpayer, with the 30% reduction being applied to corporate tax, which will be applied after deducting all other incentives of the Taxpayer is due in accordance with the law and relevant regulations. A company or organization that is also not entitled to the CIT reduction of 30% or that has paid too little to the CIT must pay the underpaid tax as well as the interest and penalties incurred.
• The decree provides for an exemption from late payment interest. In order to benefit from the exemption, taxpayers must submit a written application with an approval / rejection notice from the tax authorities within 15 days. The exemption does not apply to interest on arrears paid before the effective date of Resolution No. 406 / NQ-UBTVQH15.

• 30% VAT reduction also applies (from 1 November to 31 December 2021) if certain conditions are met.