RHTLaw Vietnam August 2020 Newsletter

RHTLaw Vietnam

11th August 2020

Our Legal Updates for the month of August 2020 cover the following new legal regulations for your reference: (1) Resolution No. 116/2020/QH14 dated 19 June 2020 on Reduction of Payable Corporate Income Tax in 2020 for Enterprises, Cooperatives, Professional Entities and Other Organizations; and (2) Decree No. 81/2020/ND-CP dated 9 July 2020 on Amendments and Supplements to Decree No. 163/2018/ND-CP Regarding Issuance of Corporate Bonds.

Resolution No. 116/2020/QH14 dated 19 June 2020 on Reduction of Payable Corporate Income Tax in 2020 for Enterprises, Cooperatives, Professional Entities and Other Organizations (“Resolution 116”)

Effective date: 3 August 2020

This Resolution 116 shall apply to enterprises, cooperatives, professional entities and other organizations generating incomes from business operation (collectively, the “Entities”) which are subject to corporate income tax (“CIT”).

In particular, any Entity generating total revenue of or less than VND200 billion in the year of 2020 shall be entitled to a reduction of 30% of its payable CIT amount. For that purpose, the Entity shall have to, by itself, determine the CIT amount to be reduced when temporarily paying the quarterly CIT and when finalizing the CIT amounts for the year of 2020.

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RHTLaw Vietnam

Vietnam
http://www.rhtlaw.com.vn

RHTLaw Vietnam offers clients access to a network of over 2000 legal professionals across various offices in Asia through RHTLaw Asia and the ASEAN Plus Group (APG).

The Firm traces its beginnings in 2005 when a team of experienced Vietnamese lawyers came together to set up what was formerly known as PBC PARTNERS. A subsequent joint venture in 2016 with the 6th largest law firm in Singapore led to a brand relaunch and the firm is now known as RHTLaw Vietnam. It is part of the RHTLaw Asia network.

Since then, the Firm has experienced strong growth and is now recognised as a leading law firm in Vietnam. RHTLaw Vietnam is also a member of APG which is a group of full-services law firms that blends the best of knowledge, culture and international expertise. APG firms have a strong presence in Asia with offices located in Singapore, China, Indonesia, Vietnam, South Korea, Philippines, Thailand, Taiwan and Malaysia.

Our model is driven by the focus on helping clients succeed, which translates to clear and precise solutions with high-level legal and commercial insights. We proactively grow our practice in tandem with regional and international fast growing industries and areas like Banking & Finance, Inward & Outward Investment, Intellectual Property, Trading & Commerce, Real Estate & Construction, Telecommunications, Tax, Employment and Dispute Resolution.

With offices in Ho Chi Minh City and Hanoi, RHTLaw Vietnam is recognised as a go-to law firm in Vietnam.

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RHTLaw Vietnam August 2020 Newsletter

RHTLaw Vietnam

11th August 2020

RHTLaw Vietnam

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