SMEs owned by large firms denied tax extension

Small and medium-sized enterprises which are at least 50 percent owned by large companies are not eligible for the government’s one-year tax deferral program.

Besides, SMEs’ income from property, financial, banking, insurance, and securities transactions and services that attract special consumption tax too will not be eligible under the program. In other words, tax on these incomes has to be paid in the normal course.

A company is considered an SME if it has a capital of less than 10 billion dong and no more than 300 employees. – Tuoitre

Tags: Vietnam Tax

Posted by VBN on Apr 21 2011. Filed under Economy News, Enterprises. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry