HANOI, Aug. 21 (Xinhua) -- The Vietnamese government has proposed a 30-percent reduction in personal and corporate income taxes for eligible individuals and enterprises in 2026 and 2027, the Vietnam News Agency reported Friday.
Under the proposal, resident individuals engaged in business activities with annual revenue of no more than 10 billion Vietnamese dong (about 391,000 U.S. dollars) would receive a 30-percent reduction in personal income tax payable for each of the two years.
The reduction would also apply to enterprises and organizations with annual revenue not exceeding 10 billion Vietnamese dong in 2026 and 2027, the report added.
Minister of Finance Ngo Van Tuan said the proposed tax cuts are aimed at easing difficulties and stabilizing production and business activities for small businesses, while helping control inflation and maintain macroeconomic stability.
The ministry estimated that the measure would reduce state budget revenue by about 3.19 trillion Vietnamese dong (124.7 million dollars) in 2026 and 3.51 trillion Vietnamese dong (137.2 million dollars) in 2027, according to the report. ■
