Congress only reduced taxes for print newspapers.

June 20, 2013 09:45

Other forms of media, including television, radio, and online news, remain subject to the standard tax rate.

On the afternoon of June 19th, with a majority vote, the National Assembly passed the Law amending and supplementing several articles of the Corporate Income Tax Law. Accordingly, the general tax rate will be applied at 22% from the beginning of 2014 and 20% from 2016. Notably, the National Assembly agreed to reduce the tax rate for print media to 10% (from the current 25%). Other forms of media, including television, radio, and online news, will remain subject to the same general tax rate.

Earlier, during a discussion in the Assembly Hall, Mr. Ha Minh Hue, Vice President of the Vietnam Journalists Association, stated that among the 67 radio and television stations, only four major centers—Vietnam Television, Ho Chi Minh City Television, Hanoi Television, and Vinh Long Television—have good advertising revenue and pay corporate income tax. The remaining 60 or more local radio and television stations are in extremely difficult circumstances. Advertising on online newspapers and radio stations has not seen any significant improvement.

However, according to the explanation of the National Assembly Standing Committee: In recent years, journalistic and propaganda activities, including radio, online, and television, have made a significant contribution to the successful implementation of economic and political tasks and to the state budget. However, compared to other forms of media, print media still faces many difficulties due to increasingly high input costs and the need to fulfill many political tasks and serve remote areas and islands. Therefore, in the current context, to share the common difficulties, for the time being, the preferential treatment will only be maintained for print media.


According to (vov.vn) - LT

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Congress only reduced taxes for print newspapers.
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