Tax reduced to assist enterprises

VGP – The PM just decided that, between May 1 and December 31, 2009, the registration tax will be half cut for below-10-seat vehicles.

All below-10-seat vehicles will enjoy a half-cut registration fee

This is one of measures approved by the PM to stimulate investment and consumption, prevent economic downturn and lift difficulties for enterprises.

Also during the same period, a 50% reduction of value added tax will be granted for some goods and services, including fiber, cloth, garments, and footwear of all kinds; paper and paper products, books (except political books, textbooks, legal documents, scientific and technical books, books published in ethnic minority languages and newsprint); cement; bricks and tiles of all kinds; motorbikes with capacity of over 125 cm3.

The Government chief also allowed an extension of the payment term of value added tax to 180 days for imported machinery, equipment, spare parts, and some means of transport for special use.

The corporation revenue tax of the last quarter of 2008 will be reduced by 30% for gains from the production of fiber, textiles, dyes, garments and footwear.

Source: Chinphu

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