On August 21, 2020, the Tax Department of Hanoi issued Official Letter No.77768/CT-TTHT guiding the CIT policy to the enterprise as follow:
According to specified in Article 1 Resolution No.116/2020/QH14 dated 19/6/2020 of the National Assembly as well as the revenue of the Company in 2020 does not exceed VND 200 billion, the Company can reduce 30% CIT payable in 2020. The Company is based on requirements of reduction of CIT payable in 2020 to self-determine tax reduction when temporary payment of CIT quarterly and finalization CIT in 2020.
In the case, the Company has fiscal year which is not match with calendar year, the CIT reduction in 2020 is determined in line with tax period of the Company.
In the process of implementing tax policy, in case of any problems, the enterprise can refer to the guiding documents of the Hanoi Tax Department which are posted on the website http://hanoi.gdt.gov.vn or contact to the Tax Inspection and Inspection Department No. 2 for assistance.