Hanoi delays corporate tax collection

Hanoi’s Tax Department has decided to extend the time for small and medium-sized businesses to pay VND 667 billion in corporate tax as part of efforts to help them overcome difficulties.

Adverse impacts of the global economic downturn and domestic tightened monetary and fiscal policies to trade have made the business circle trapped in difficulties.

The delay in corporate tax payment, which would significantly downsize the city’s tax collection, is expected to spur economic growth.

In the first nine months tax agencies collected an estimated sum of VND 87 trillion, or 83% of the Municipal People’s Council’s forecast, which represented an increase of 26.6% against the same period last year.

Source chinhphu.vn

Tags: Corporate tax

Posted by VBN on Sep 26 2011. Filed under Banking-Finance, Economy News. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry