The Vietnam government has issued Decree No. 114/2020/ND-CP, which provides rules for the implementation of the 30% reduction in corporate income tax for SMEs that was approved earlier in the year in response to the impact of COVID-19. The reduction is available for the 2020 fiscal year for companies with annual revenue up to VND 200 billion.
The Decree clarifies certain aspects of the 30% reduction, including the revenue threshold. This includes that total revenue for determining eligibili…