The 15th National Assembly voted to pass the revised Law on Corporate Income Tax and the amended Excise Tax Law on June 14 morning, as part of its ongoing 9th session.

452 lawmakers, or 94.56% of the total number of deputies present, voted in favour the revised Law on Corporate Income Tax, while the amended Excise Tax Law was adopted with 448 out of 454 deputies present voting in favour, accounting for 93.72% of the total.

To affirm the Party and State’s commitment to supporting the press, the NA Standing Committee has adopted the government’s proposal to apply a uniform preferential corporate tax rate of 10% to all types of press. This move aligns with the current tax incentives for print newspapers.

E-commerce and digital platforms with payment functions will have to declare and pay taxes on behalf of sellers being business households and individuals from April 1, 2025.

Legislators will review a verification report and discuss a draft resolution of the National Assembly (NA) on reducing value-added tax (VAT); the draft amended Law on Corporate Income Tax; and the draft law on amending and supplementing a number of articles of the Law on Standards and Technical Regulations, at the ongoing 8th session on November 28 in Hanoi.

The Ministry of Finance is proposing amendments to the Law on Corporate Income Tax to encourage environmental protection and sustainable development.

Vietnam has always paid attention to protecting legitimate interests of foreign investors, including Samsung, National Assembly (NA) Chairman Vuong Dinh Hue told Park Hark Kyu, President and Chief Financial Officer of Samsung Electronics Co., Ltd., of the Republic of Korea (RoK).

Anti-transfer pricing measures were included in the Law on Tax Administration for the first time, but a guiding decree has not yet been written. Experts said this could mean the rules are less effective.