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Retained

  • Statutory Tax Rate 20
  • Surtax Based on Taxable Income 0
  • Surtax Based on Statutory Tax 0
  • Surtax Deductible from Taxable Income 0
  • Statutory Tax Deductable 0
  • Effective Tax Rate 20

Statutory Tax Rate

The corporate tax rate is 20% effective from 1 January 2016. Enterprises engaged in precious mineral resources and oil and gas enterprises are subject to tax rates ranging from 32% to 50%. Preferential rates apply for entities which have been granted tax incentives.

In response to the COVID-19 pandemic, a 30% corporate tax rate reduction is provided to small and medium enterprises with annual revenue up to VND 200 billion for the fiscal year 2020, resulting in an effective tax rate of 14%.