Decree 92 presents further detailed guidance on applicable objects, types of income and taxable period entitled to favorable tax rates under the amended laws, including:
■ A 20% CIT rate is applicable for enterprises with the total annual revenue not exceeding VND20 billion;
■ A 10% CIT rate and 5% VAT rate for income from social housing business
■ A 50% reduction of applicable VAT rates for income generated from sale, lease, or financial lease of commercial building.
Details of notable content in Decree 92 were updated in our Tax Alert on 21 August 2013.
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