Exemption from VAT and personal income tax for some subjects
The Government has just issued a Decree detailing and guiding the implementation of the National Assembly's Resolution on a number of solutions to implement the State budget in 2013 and 2014.
Notably, this Decree stipulates the exemption of lump-sum tax (value added tax, personal income tax) and corporate income tax in 2013 and 2014 for households, individuals and organizations.
Specifically, exemption from lump-sum tax (value added tax, personal income tax) in 2013 and 2014 for households and individuals running boarding houses and rooms for rent to workers, laborers, students; households and individuals providing childcare; households and individuals providing shift meals for workers.
Exemption from value added tax and corporate income tax payable arising in 2013 and 2014 for the activity of providing shift meals for workers (excluding the activity of providing meals for transport and aviation enterprises and other business activities) of the enterprise. In case the enterprise conducts many business activities, the amount of corporate income tax exempted is only calculated on the income from the activity of providing shift meals. In case the income of the tax-exempt activity cannot be determined, the income to calculate the tax exempted amount is determined by the percentage (%) between the revenue of the activity of providing shift meals and the total revenue of the enterprise in the tax-exempt year...
The Decree clearly states that households, individuals doing business and enterprises exempted from tax must commit to keeping stable the prices for renting rooms, boarding houses, childcare prices, and meal supply prices in 2013 and 2014, not higher than the prices in December of the previous year. The prices must be made public, posted at the business establishment and notified to the local authorities of the commune or ward where the business is located and the tax authority directly managing it.
In addition, this Decree also stipulates State budget revenue for dividends distributed in 2013 and 2014 for the State capital portion in joint stock companies with State capital represented by ministries, branches, and localities...
According to SGGP
