Legislature adopts resolution on reducing corporate income tax
The National Assembly on June 19 passed a resolution on reducing corporate income tax in 2020 for enterprises, cooperatives, public non-production agencies and other organisations, with 91.1 percent of votes.
The resolution on reducing corporate income tax in 2020 was adopted by the National Assembly on June 19 (Photo: VNA)
Hanoi (VNA) – The National Assembly on June 19 passed a resolution on reducingcorporate income tax in 2020 for enterprises, cooperatives, publicnon-production agencies and other organisations, with 91.1 percent of votes.
Theresolution has three articles, and will enter into force 45 days after the dayit is signed. The reduction will be applied to enterprises with revenues notabove 200 billion VND (around 85,850 USD) in the assessment period in 2020.
Before the voting, a report on thefinal amendment to the draft resolution presented by the Chairman of the NA’sFinancial-Budgetary Committee Nguyen Duc Hai showed that the tax reduction underthe resolution would result in a decrease of 23 trillion VND (nearly 1 billion USD)in State budget revenues in 2020.
Hai said if the economy continues to experience difficulties to the endof the year or the beginning of next year, the NA Standing Committee will askthe resolution drafting board to study and propose to the NA an extension ofthe resolution’s term of validity./.
Legislators adopted a resolution recognising and permitting the enforcement of rulings issued by dispute settlement agencies under the EU-Vietnam Investment Protection Agreement (EVIPA) with 95.3 percent of votes in favour, during the ongoing ninth session of the 14th National Assembly in Hanoi on June 18.
The National Assembly passed the law amending and supplementing some articles of the Law on the Issuance of Legal Documents at its on-going ninth session on June 18.
The law on public-private partnership (PPP) investment was adopted by the National Assembly (NA) on June 18 at the legislature’s ninth session, with 92.75 percent of deputies voting in favour.
The 14th National Assembly adopted a Resolution on specific financial-budgetary policies and mechanisms for Hanoi with 91.51 percent of votes on June 19 morning.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Deputy PM Tran Hong Ha urged countries to work together to remove supply chain bottlenecks, expand market access, strengthen cooperation in smart customs procedures, mutually recognise technical standards, and eliminate unnecessary protectionist barriers to boost trade and investment.
The event has gathered over 400 exhibitors from 16 countries and territories, with more than 980 booths showcasing a wide range of products and technologies in automotive components, electronics, repair and maintenance, bodywork, accessories, and customisation.
The latest order follows Vietjet’s commitment for 20 additional A330neo aircraft last month, bringing the airline’s total widebody aircraft on order to 40.
Minister of Finance Nguyen Van Thang acknowledged the target represents an important milestone for socio-economic development as well as a demonstration of the country’s aspiration for robust economic growth.
The price of E5 RON92 petrol is now capped at 20,631 VND (0.79 USD) per litre, up 1,169 VND from the previous adjustment, while RON95-III costs no more than 21,244 VND per litre, up 1,277 VND.
While German consumers are familiar with Vietnamese products such as coffee, seafood, tea, and spices, many other quality items remain relatively unknown in the market. The Selgros event not only helped introduce Bac Giang lychee to German consumers but also provided them with the opportunity to experience other Vietnamese agricultural products.
The article by Cuba’s Inter Press Service detailed how Vietnamese private enterprise Agri VMA leased 1,000 ha of land in Los Palacios district, Cuba’s westernmost province of Pinar del Río, for rice cultivation over a three-year period. The project’s first harvest in 2025 recorded an impressive yield of 7.2 tonnes per hectare, far exceeding the local average of 1.6 tonnes.
During the visit, office representatives held a working session with the Tipaza Chamber of Commerce and Industry and met with several prominent local businesses operating in key sectors including industry, agriculture, fisheries, food processing, chemicals, pharmaceuticals and plastics.
A Nordic delegation to Vietnam International Sourcing 2025 in September will feature leading names in retail, consumer goods, logistics, and sustainable manufacturing, including global fashion giant H&M, offering fresh prospects for partnerships in fashion, textiles, and green supply chains.
With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,276 VND/USD and the floor rate 23,774 VND/USD.
Effective from the date of signing on June 18, the decision halts procedures outlined in the 2005 Memorandum of Understanding (MoU) between the governments of Vietnam and Laos on the initial implementation of the Greater Mekong Subregion (GMS) Cross-Border Transport Facilitation Agreement at the Lao Bao–Densavan border gate.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
The resolution on reducing corporate income tax in 2020 was adopted by the National Assembly on June 19 (Photo: VNA) 
