According to the provisions of Article 10 of the Law on Corporate Income Tax 2008, as amended and supplemented by Clause 6 of Article 1 of the Law on Corporate Income Tax amendment in 2013, the current corporate income tax rates are as follows:
[1] The corporate income tax rate is 22%, applicable to all businesses except:
- Businesses with annual total revenue not exceeding 20 billion VND.
- Businesses engaged in exploration, prospecting, exploitation of oil, gas and other rare resources in Vietnam.
- Entities entitled to preferential tax rates as stipulated in Article 13 of the Law on Corporate Income Tax 2008.
Cases subject to the 22% tax rate specified in this provision will be changed to apply the 20% tax rate from January 1, 2016.
[2] 20% tax rate: applies to businesses with annual revenue not exceeding 20 billion Vietnamese dong, subject to a 20% tax rate.
Revenue is used to determine the eligibility of businesses for the 20% tax rate in this category, based on the previous year's revenue.
[3] Corporate income tax rates range from 32% to 50% (depending on each project and business establishment): applicable to income from exploration, exploitation of oil, gas, and other rare resources in Vietnam, tailored to each project and business establishment.
