New Decree guiding the laws on enterprise income tax and value-added tax (revised)

19/08/2013

The Government issued Decree No. 92/2013/ND-CP dated August 13, 2013 detailing the implementation of a number of articles of the law amending and supplementing a number of articles of the law on enterprise income tax and law amending and supplementing a number of articles of law on value-added tax.

Accordingly, the tax rate of EIT of 20% shall be applied for enterprises with total annual revenue not exceeding VND 20 billion since July 01, 2013.

Relating to the investment and business of social housing, the tax rate for revenues from sale, lease or lease for purchase of social houses from July 01, 2013 will be 10%, not depending on time of signing contracts of sale, lease or lease for purchase of social houses.

Besides, VAT tax rate will be reduced by 50% from July 01, 2013 to the end June 30, 2014, for sale, lease or lease for purchase of commercial houses which are completed houses with floor area of under 70m² and sale price less than VND 15 million /m².

The Decree takes effect since the time of signing.

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New Decree guiding the laws on enterprise income tax and value-added tax (revised)

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