Circular Clarifies Tax Deferral Scheme for SMEs in Vietnam

A circular issued by the Ministry of Finance last month clarified details of the extension of 2010 corporate income tax payment for small and medium enterprises.

Following the previously issued Decision 12, small and medium enterprises will be allowed CIT payment deferral based on their total capital or annual average number of employees. Specifically, SMEs with total employees numbering not more than 300 persons or total capital resource of up to VND100 billion will be qualified. Circular 39 clarifies on this issue by detailing how to determine total capital and workforce.

Total capital will be based on the capital reported on the company

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