On 19 June 2020, Vietnam's National Assembly adopted a resolution providing a 30% reduction in the corporate tax rate for SMEs in response to the impact of COVID-19. The reduction applies for the 2020 fiscal year for companies with annual revenue up to VND 200 billion. Other conditions originally proposed, including a minimum drop in revenue and a maximum number of employees, are not required under the final resolution.
In the event that there are no signs of economic recovery in late 2020 a…