New corporate income tax rates in Viet Nam
Standard corporate income tax (CIT) in Viet Nam shall be 20 percent for resident and non-resident businesses, according to the latest CIT Law.
A preferential CIT rate of 15 percent shall be applicable for a business with total annual revenue of up to VND3 billion (US$118,830).
A preferential CIT rate of 17 percent shall be applicable for a business with total annual revenue between over VND3 billion and VND50 billion.
For oil and gas exploration and exploitation, the CIT rate shall range between 25 percent and 50 percent. The Prime Minister shall decide the specific tax rate for each oil and gas contract.
For exploration and exploitation of precious and rare natural resources, including platinum, gold, silver, tin, gemstones, rare earths and others as prescribed by law, the tax rate shall be 50 percent./.
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