What is new on CIT?

 

The new CIT Law No. 32/2013 amended some key regulation in the 2008 Law and came into effect on 1 July 2013.

The current CIT rate is 25%. From 1 January 2014, the new basis rate is 22%. This is an incentive policy to encourage business activities in Vietnam.

Specifically, from 1 July 2013, the CIT rate of 20% will be applied for companies with revenue of not over VND 20 billion. The base of is the company’s prior year revenue.