30% reduction of corporate income tax in 2020 for businesses with turnover below 200 billion VND

On the morning of June 19, on the last working day of the 9th session, the National Assembly passed a resolution to reduce corporate income tax (CIT) payable by 2020. With 442/446 National Assembly deputies present voting, the National Assembly decided to reduce CIT by 30% for businesses with revenue below 200 billion.

The Resolution takes effect 45 days from the date of signing and applies to the tax year 2020.