Vietnam Ministry of Finance proposes new corporate tax incentives

The Ministry of Finance is drafting a new decree to amend regulations regarding corporate income tax (CIT) incentives. The proposal aims to align tax benefits with recent legislative updates passed by the National Assembly.

To support economic growth in socio-economically disadvantaged or extremely difficult areas, the Ministry proposes relaxing cashless payment requirements. Under the draft, businesses would not be required to use cashless methods for paying wages to employees or making payments to individuals and households in these specific regions, such as when using lists for purchasing goods and services from local residents or small businesses below the tax threshold.