Vietnam Mulling over Corporate Income Tax of 25% for Oversea Investment
The Vietnamese Ministry of Finance is seeking opinions from ministries and agencies for a draft circular under which the corporate income tax of 25% will be applied for local firms investing abroad.
The tax level is also levied on Vietnamese investors which receive corporate income tax exemption and cut from the countries and territories they invest in.
Under the circular, if local companies have to pay a corporate income tax level of below 25% required by countries and territories they pour investment into, they will be offered a deduction of the same rate for the tax payment in Vietnam.
Vietnamese companies have invested roughly $2.1 billion abroad so far this year, raising the country’s total oversea investment to $6.8 billion in 440 projects, the Ministry of Planning and Investment said. (Investment & Securities)
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