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Vietnam Pledges Tax Support Amid Spread Of COVID-19

Tuesday, March 17, 2020

The Vietnamese Government has announced its intention to provide fiscal support to businesses impacted by the COVID-19 coronavirus outbreak.

Prime Minister Nguyen Xuan Phuc recently announced the Government will soon release a package of tax relief measures, including tax breaks for industries heavily affected by COVID-19.

The Government is expected to allow companies more time to pay about VND30 trillion (USD1.3bn) in taxes and business property tax dues. The Government is expected to further support businesses' access to credit and improve their cash flows by ensuring access for small and medium businesses to low-interest loans and potentially freezing interest on debts.