Vietnam Proposed Tax Measures include Corporate Tax and VAT Rate Changes and Thin Cap Rules

According to recent reports, draft legislation has been submitted to Vietnam's National Assembly that would introduce a number of tax changes, including:

• The introduction of a reduced corporate tax rate of 15% for micro enterprises (less than VND 3 billion annual revenue) and a rate of 17% for small and medium enterprises (less than 200 employees and less than VND 50 billion annual revenue);
• The introduction of a 1% tax on income from capital transfers in Vietnam by non-residents without a p…