The Vietnam Bank for Social Policies (VBSP) has announced that it will suspend collection of loan interest from borrowers affected by Typhoon Yagi and the subsequent flooding until December 31.
Sixteen commercial banks cut over 21.24 trillion VND (936 million USD) of loan interest for COVID-19-hit customers from July 15 to December 31, 2021, surpassing their commitment by 5.13 percent, the State Bank of Vietnam (SBV) reported on February 9.
Many local enterprises are concerned about paying higher corporate income tax according to regulations on the deductibility of loan interest under Decree 20, in effect from May 1, 2017.
