The Vietnam Government’s measures to support enterprises due to Covid19

Resolution No. 84/NQ-CP dated May 29th, 2020 of the Government on tasks and solutions for dealing with difficulties in business operations, promoting disbursement of public investment and ensruring social order and safety during Covid-19 epidemic

The following measures of the Government will positively influence enterprises:

  • Reduce 30% of payable corporate income tax of 2020 for small and very-small enterprises. However, this measure is required to be approved by the National Assembly
  • Reduce 15% of land rents in 2020
  • Reduce 2% of interest rate on loans taken from the medium and small enterprise development fund
  • Reduce 50% of registration fee for domestically manufactured or assembled automobiles until the end of 2020.
  • Approve pilot implementation of using telecommunication accounts to pay for small-value goods and services (mobile money)
  • Extend work permits for foreign experts, enterprise managers, investors and highly skilled workers working in enterprises; issue new work permits for foreign experts, enterprise managers, investors and highly skilled workers to replace those who cannot enter or do not enter Vietnam.

VIETNAMLAWONLINE

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