Hanoi, Aug. 23 -- The proposal was presented by Minister of Finance Ngo Van Tuan on August 21 at the on-going extra session of the National Assembly.

A 30% reduction in corporate income tax payable for the 2026 and 2027 tax periods is also proposed for enterprises and organizations established in accordance with Vietnamese law whose annual revenue in 2026 and 2027 does not exceed VND 10 billion.

For enterprises currently eligible for tax incentives under the Law on Corporate Income Tax or other laws and resolutions of the National Assembly, the proposed corporate income tax reduction would be calculated based on the amount of corporate income tax payable after tax incentives have been deducted.

According to the finance minister, the ta...