Fiscal and monetary policies to support enterprises in year 2022
DMS Law office in Danang, Vietnam advise about fiscal and monetary policies to support enterprises in year 2022 ?
On January 11, 2022, the National Assembly issued Resolution No. 43/2022/NQ-QH15 on fiscal and monetary policies to support the program of socio-economic recovery and development. On January 28, 2022, the Government issued Decree No. 15/2022/ND-CP detailing the implementation of tax exemption and reduction policies under Resolution No. 43/2022/NQ-QH15. It stipulates:
- Regarding Value Added Tax (VAT): 2 percent (2%) reduction of VAT rate in 2022 for groups of goods and services that are applying the VAT rate of 10 percent (10%); the reduced VAT rate is 8 percent (8%), except for certain goods and services, effective from February 1, 2022 to December 31, 2022.
- Regarding Corporate Income Tax (CIT): Allow to include in deductible expenses when determining CIT taxable income for enterprise and organization’s expenditures supporting and sponsoring for COVID-19 epidemic prevention and control activities for the tax year 2022./.
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Lawyer Do Minh Son
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