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NATIONAL
ASSEMBLY OF VIETNAM
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SOCIALIST
REPUBLIC OF VIETNAM
Independence - Freedom – Happiness
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Law No.
67/2025/QH15
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Hanoi, June 14,
2025
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LAW
CORPORATE
INCOME TAX
Pursuant to Constitution of the Socialist
Republic of Vietnam;
The National Assembly hereby promulgates the Law
on Corporate Income Tax.
Chapter I
GENERAL PROVISIONS
Article 1. Governing scope
This Law provides for taxpayers, taxable income,
exempt income, tax bases, tax calculation methods and tax incentives.
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1. Taxpayers are organizations earning taxable
income from production of goods, sale of goods and services as prescribed by
this Law (hereinafter referred to as "enterprises"), including:
a) Enterprises established under Vietnamese law;
b) Enterprises established under foreign laws
(hereinafter referred to as "foreign enterprises") with or without
Vietnam-based permanent establishments;
c) Cooperatives, cooperative unions established in
compliance with provisions of the Law on Cooperatives;
d) Public service providers established under
Vietnamese law;
dd) Other organizations earning income from
production and business operations (hereinafter referred to as “business
operations”).
2. Enterprises having taxable incomes under Article
3 of this Law shall pay corporate income tax as follows:
a) Enterprises established under Vietnamese laws
shall pay tax on taxable incomes generated in and outside Vietnam;
b) Foreign enterprises with Vietnam-based permanent
establishments shall pay tax on taxable incomes generated in Vietnam and
taxable incomes generated outside Vietnam which are related to the operation of
such establishments;
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d) Foreign enterprises without Vietnam-based
permanent establishments, including those engaged in e-commerce and digital
platform-based businesses, shall pay tax on taxable incomes generated in
Vietnam.
3. The permanent establishments of a foreign
enterprise are production and business facilities through which the foreign
enterprise carries out part or the whole business operations in Vietnam,
including:
a) Branches, executive offices, factories,
workshops, means of transport, oil fields, gas files, miles or other natural
resource extraction sites in Vietnam;
b) Construction sites;
c) Service providing centers, including counseling
services via employees or other organizations or individuals;
d) Agents of foreign enterprises;
dd) Vietnam-based representatives, in case of
representatives that are competent to conclude contracts in the name of foreign
enterprises or representatives that are incompetent to conclude contracts in
the name of foreign enterprises but regularly deliver goods or provide services
in Vietnam;
e) E-commerce platforms and digital platforms
through which foreign enterprises provide goods and services in Vietnam.
4. The Government of Vietnam shall elaborate this
Article.
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1. Taxable incomes include income from goods and
service business operations and other incomes specified in Clause 2 of this
Article.
2. Other incomes include:
a) Income from transfer of capital, transfer of the
right to capital contribution, transfer of securities;
b) Income from real estate transfer, except for
income from transfer of real estate of real estate businesses;
c) Income for transfer of investment projects,
transfer of the right to participate in investment projects, transfer of the
right to mineral exploration, mineral extraction, and mineral processing;
d) Income from transfer, lease and liquidation of
assets including valuable papers, except for real estate;
dd) Income from the property use right and property
ownership, including income from intellectual property rights and technology
transfer
e) Income from deposit interest, loan interest,
sale of foreign exchange, except for income from credit operations of credit
institutions;
g) Accrued expenses which are not fully settled or
only partially settled but are not recorded as a decrease in deductible
expenses; collected bad debts that were cancelled; debts payable without
identifiable creditors; discovered income from business operation in previous
years that were omitted;
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i) Financial or in-kind donations and grants
received;
k) Differences arising from the revaluation of
assets according to laws for capital contribution, transfer during mergers,
consolidations, full divisions, partial divisions, ownership changes, and
conversion of business types;
l) Income from business cooperation contracts;
m) Income from business operations abroad;
n) Income of public service providers for
activities related to the leasing of public property;
o) Other income, excluding the exempt income
prescribed in Article 4 of this Law.
3. Taxable income generated in Vietnam of foreign
enterprises stipulated in points c and d of Clause 2 Article 2 of this Law is
income received that originates from Vietnam, regardless of the location of
business operation.
4. Vietnamese enterprises investing abroad that generate
income from business operations overseas during the tax period may deduct the
corporate income tax payable according to the regulations of the host country
from the corporate income tax payable in Vietnam, but this deduction must not
exceed the corporate income tax calculated according to the provisions of
Vietnamese corporate income tax law.
5. Enterprises must pay an additional corporate
income tax based on the Income Inclusion Rule (IIR) as stipulated by law; thus,
the additional corporate income tax payable can be deducted from the corporate
income tax payable in Vietnam as per the provisions of this Law.
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Article 4. Exempt incomes
1. Income from marine fisheries; income from the
production of products from crops, planted forests, breeding, cultivation and
processing of agriculture and aquaculture products (including purchase of
agriculture and aquaculture products for processing) in disadvantaged areas or
extremely disadvantaged areas; income of cooperatives, cooperative unions from
the production of products from crops, planted forests, breeding, cultivation
and processing of agriculture and aquaculture products (including purchase of
agriculture and aquaculture products for processing), salt production.
2. Income of cooperatives, cooperative unions
engaged in agriculture, forestry, fishery, or salt production in disadvantaged
areas or extremely disadvantaged areas.
3. Income from the application of technical
services directly for agriculture.
4. Income from the performance of contracts on
scientific research and technological development and innovation, and digital
transformation; income from the sale of products turned out with technologies
applied for the first time in Vietnam; income from the sale of trial products
during the period of trial production including trial production conducted
under controlled conditions in accordance with legal regulations. Income stated
in this clause shall be exempt from tax for a maximum period of three years.
5. Incomes from goods and service business
operations of enterprises at least 30% of the annual average number of
employees of which are disabled people, detoxified people, HIV/AIDS patients,
and have an annual average number of employees of at least 20, except for
enterprises engaged in finance and real estate business.
6. Income from vocational education and training
activities exclusively reserved for ethnic minority people, the disabled,
children in extremely disadvantaged circumstances and persons involved in
social evils.
7. Income distributed from capital contributions,
share purchases, joint ventures or associations with domestic enterprises,
after corporate income tax has been paid under the provisions of this Law,
including cases where the capital contribution recipients, stock issuers, joint
ventures or associations are eligible for corporate income tax incentives.
8. Grants received for use in educational,
cultural, artistic, charitable, humanitarian and other social activities in
Vietnam; grants received from enterprises that are not related parties,
organizations and individuals both domestically and internationally for the
purpose of scientific research, technology development, innovation, and digital
transformation; direct support from the state budget and from the Investment
Support Fund established by the Government; compensation from the State as
prescribed by law.
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9. The difference arising from the revaluation of
assets in accordance with provisions of law for the purposes of equitization
and restructuring of enterprises of which 100% charter capital is possessed by
the State.
10. Income from the transfer of Certified Emissions
Reductions (CERs), the initial transfer of carbon credits after issuance by
enterprises granted Certified Emissions Reductions (CERs) and carbon credits;
income from interest on green bonds; income from the initial transfer of green
bonds after issuance.
11. Income (including interest from bank deposits,
interest from government bonds, and interest from treasury bills) from
performing the tasks assigned by the State in the following circumstances:
a) Income of the Vietnam Development Bank from
development investment credit and export credit activities;
b) Income of the Vietnam Bank for Social Policies
from credit operations for the poor and other beneficiaries;
c) Income of the single-member limited liability
companies managing assets of credit institutions in Vietnam;
d) Income from revenue-generating activities of
state financial funds and other state organizations operating on a non-profit
basis as prescribed or decided by the Government or the Prime Minister.
12. The undistributed income of private facilities
in the education – training, healthcare, and other sectors in which private
investment is encouraged that is retained to invest in those facilities’
development, in accordance with the minimum ratio prescribed by the Government;
income contributed to the creation of an undistributed common fund or
undistributed common assets of cooperatives and cooperative unions that are
established and operating established and operating in accordance with the
regulations of the law on cooperatives.
13. Incomes from transfer of technologies that are
prioritized to be to organizations and individuals in extremely disadvantaged
areas.
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a) Basic and essential public services included in
the list of public services using state budget issued by the competent
authority;
b) Public services requiring the State’s subsidization
or funding due to the undercalculation of service provision costs in the
service charges;
c) Public services in extremely disadvantaged
areas.
15. The Government of Vietnam shall elaborate this
Article.
Article 5. Tax period
1. A corporate income tax period may be a calendar
year or a fiscal year as decided by enterprises, except the cases defined in
Clause 2 of this Article. In case an enterprise chooses a fiscal year that is
not the calendar year, a notification must be submitted to the supervisory tax
authority before implementation.
2. The tax period for the enterprises specified in
point c, point d clause 2 Article 2 of this Law shall comply with the
provisions of law on tax administration.
Chapter II
TAX
BASES AND TAX CALCULATION METHODS
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Tax bases include assessable income and tax rate.
Article 7. Determination of
assessable income
1. Assessable income in a tax period is determined
as follows:
Assessable income
=
Taxable income
-
Exempt income
+
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2. Taxable income specified in clause 1 of this
Article is determined as follows:
Taxable income
=
Revenue
-
Tax deductible
expenses
+
Other incomes
(including income received outside Vietnam)
3. An enterprise engaged in multiple business
operations during the tax period shall have their taxable income from business
operations calculated as the total income from all such operations. In cases of
losses incurred in the business operations, these losses may be offset against
the taxable income of other business operations generating income, as chosen by
the enterprise (excluding income from real estate transfers, investment project
transfers, and transfers of rights to participate in investment projects that
cannot be offset against the income from business operations currently enjoying
tax incentives). The remaining income after offsetting is subject to the
corporate income tax rate applicable to business operations.
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Article 8. Revenues
1. Revenue for calculating taxable income is the
total sales, processing remuneration, service provision charges, including
subsidies and surcharges enjoyed by enterprises, regardless of whether the
payment has been received or not.
2. The Government of Vietnam shall elaborate this
Article.
Article 9. Deductible and
non-deductible expenses upon determination of taxable incomes
1. Except for the expenditures mentioned in Clause
2 of this Article, all expenditures of an enterprise may be deductible when
calculating taxable income if they meet the conditions below:
a) Actual expenditures on business operation of the
enterprise, including additional deductible expenses that are a percentage (%)
of the actual expenses incurred during the tax period related to the
enterprise's research and development activities;
b) Other actual expenditures incurred, including:
b1) Expenditures on national defense and security
education, training, activities of the self-defense forces, and other national
defense and security tasks as prescribed by law;
b2) Expenditures on activities of party
organizations and political-social organizations within the enterprise;
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b4) Actual expenditures on HIV/AIDS prevention and
control in the workplace of the enterprise;
b5) Funding for education, healthcare, culture;
funding for disaster prevention, mitigation of disaster and epidemic
consequences, funding for building solidarity houses, houses of affection, and
homes for policy beneficiaries as prescribed by law; funding as regulated by the
Government and the Prime Minister for extremely disadvantaged areas; funding
for scientific research, technological development and innovation, and digital
transformation;
b6) Expenditures on scientific research,
technological development and innovation, and digital transformation;
b7) Value of losses due to natural disasters,
diseases, and other cases of force majeure where compensation is not eligible
for;;
b8) Actual expenses for individuals seconded to participate
in the management, operation and control of credit institutions put under
special control and commercial banks undergo mandatory transfer in accordance
with the Law on Credit Institutions;
b9) Certain operating expenses of the enterprise
that do not correspond with the revenue generated during the period as
stipulated by the Government.
b10) Expenditures on supporting the construction of
public works, while also serving the business operation of the enterprise.
b11) Expenditures related to the reduction of
greenhouse gas emissions aimed at carbon neutrality and net zero, reducing
environmental pollution as well as the production and business of the
enterprise;
b12) Some contributions to funds established under
the decision of the Prime Minister and regulations of the Government;
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2. Non-deductible expenses upon determination of
taxable incomes include:
a) Expenditures not fully satisfying the
requirements specified in Clause 1 of this Article;
b) Fine for administrative violations;
c) Expense already covered by other funding
sources;
d) Expense in excess of the Government-prescribed
norm for: Business management costs allocated by foreign enterprises to their
Vietnam-based permanent establishments; costs of management of gambling video
game businesses and casinos; payment of interests on loans taken by enterprises
with related-party transactions; direct payment of benefits for employees;
contributions to additional pension insurance as mandated by the Social
Insurance Law or social welfare-like funds, voluntary pension insurance, and
life insurance for employees;
dd) Provisions made incorrectly or exceeding the
limits set by the law regarding provisions;
e) Depreciation expense for fixed assets that is
incorrect or exceeds the limits prescribed by law;
g) Improper prepaid expenses;
h) Wages and remunerations of owners of sole
proprietorships, individual owners of single-member limited liability
companies; wages of founders that do not directly participate in production and
business management; wages, remunerations, and accounting expenses allocated
for the employees that are not actually paid or are paid without invoices or
payment documents as prescribed by law;
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k) Recoverable expenses exceeding the rate
stipulated in the approved petroleum contract; in cases where the petroleum
contract does not specify a recovery rate, the expenses exceeding the limits
set by the Government shall not be considered deductible expenses.
l) The input value-added tax (VAT) that has been
deducted; the VAT paid using the credit-invoice method; the input VAT on the
value of passenger cars with fewer than 10 seats exceeding the limits set by
the Government; corporate income tax; other taxes, fees, charges, and revenues
not considered as expenses according to the provisions of law, and late payment
interests as stipulated by the law on tax administration.
The VAT paid using the credit-invoice method
specified in this point shall not include the input VAT on goods and services
directly related to the production and business of the enterprise that has not
been fully deducted and also not refundable.
The input VAT that has been recorded as deductible
expenses shall not be deducted from the output VAT.
m) Expenses not corresponding to assessable
revenue, except for the expenses specified in point b, clause 1 of this
Article; expenses that do not meet the conditions for expenditure and the items
of expenditure as stipulated by specialized laws;
n) Donations, except for donations specified in
point b5 clause 1 of this Article;
o) Expenditures on basic construction investment
during the investment period to form fixed assets; expenditures directly
related to the increase or decrease of the enterprise's equity.
p) Expenses of business operations: banking,
insurance, lottery, securities, BT contracts, BOT contracts, and BTO contracts
that are incorrect or exceed the limits prescribed by law;
q) Other expenses.
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The Ministry of Finance stipulates that the
documentation for the expenses recorded as deductible expenses specified in
points b and c of Clause 1 of this Article.
Article 10. Tax rate
1. The corporate income tax rate shall be 20%,
except for the cases in Clauses 2, 3 and 4 of this Article and beneficiaries of
tax incentives prescribed in Article 13 of this Article.
2. A tax rate of 15% shall apply to enterprises
whose total annual revenue does not exceed 3 billion VND.
3. A tax rate of 17% shall apply to enterprises whose
total annual revenue is from over 3 billion VND to 50 billion VND.
The revenue used as the basis for identifying
enterprises eligible for the tax rates of 15% and 17% specified in clause 2 and
clause 3 of this Article is the total revenue for the preceding corporate
income tax period. The determination of total revenue serving as the basis for
implementation shall comply with the regulations of the Government.
4. The corporate income tax rate applicable to some
of other cases shall be as follows:
a) For oil and gas exploration and exploitation,
the tax rate shall be from 25% to 50%. Based on the location, exploitation
conditions, and mineral reserves of the mine, the Prime Minister shall decide
the specific tax rate applicable to each petroleum contract;
b) For exploration and exploitation of rare
resources (including: platinum, gold, silver, tin, tungsten, antimony,
gemstones, rare earths, and other rare resources as stipulated by law), the tax
rate shall be 50%. In cases where 70% or more of the allocated area belongs to
extremely disadvantaged areas, the tax rate shall be 40%.
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1. Corporate income tax payable in a tax period
equals (=) assessable income multiplied by (x) tax rate, except for the case
specified in clause 2 of this Article.
2. The Government shall specify the rates of
corporate income tax payable on revenue by the following entities:
a) Enterprises specified in points c and d of
clause 2, Article 2 of this Law; entities required to declare and pay taxes,
the time and method for determining revenue subject to income tax arising in
Vietnam;
b) Enterprises whose total annual revenue do not
exceed 3 billion VND as stipulated in Clause 2, Article 10 of this Law, in
cases where revenue can be determined but costs and incomes from business
operations cannot be identified;
c) Cooperatives, cooperative unions, public service
providers and other organizations specified in points c, d, and e of clause 1,
Article 2 of this Law that engage in the goods and service business operations,
generate income subject to corporate income tax (excluding exempt income
stipulated in Article 4 of this Law) and have recorded their revenues but are
unable to determine the costs and income from their business operations.
Chapter III
CORPORATE INCOME TAX
INCENTIVES
Article 12. Principles and
regulated entities of corporate income tax incentives
1. Enterprises are entitled to corporate income tax
incentives based on the sectors and industries eligible for corporate income
tax incentives, as well as the geographical areas eligible for corporate income
tax incentives specified in this Article. The corporate income tax incentives
shall comply with the provisions of Article 13 and Article 14 of this Law.
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At the same time, if an enterprise is entitled to
multiple tax incentives under this Law for the same income, the enterprise may
choose to apply the most beneficial tax incentive.
2. The sectors and industries eligible for
corporate income tax incentives include:
a) Application of high technology, venture capital
investing for the development of high technology included in the list of high
technology that is prioritized for investment and development in accordance
with the Law on High Technology; the application of strategic technology as
prescribed by law; high technology incubation, incubation of high-tech
enterprises; investment in the construction and operation of high-tech
incubators, high-tech enterprise incubators;
b) Production of software products; production of
network security products and provision of network security services in
accordance with legal regulations on network security; production of key
digital technology products, provision of key digital technology services, and
manufacturing of electronic devices in accordance with the law on digital
technology industry; research and development, design, production, packaging,
testing of semiconductor chip products; establishment of artificial
intelligence data centers;
c) Production of supporting industry products that
are included in the list of supporting industry products given priority for
development that are required to meet one of the following criteria as
stipulated by the Government:
c1) Supporting industry products for high
technology as stipulated by the Law on High Technology;
c2) Supporting industry products for the production
of products in the textile - garment, leather - footwear, electronics -
information technology (including semiconductor production and design),
automobile manufacturing and assembly, and mechanical engineering, as of the
effective date of this Law, which have not yet been produced domestically or
have been produced domestically but must meet the technical standards of the
European Union or equivalent (if any) as prescribed by the Minister of Industry
and Trade;
d) Production of renewable energy, clean energy,
energy from waste disposal; environmental protection; the production of
composite materials, various types of lightweight building materials, and rare
materials; production of national defense and security products and industrial
mobilization products according to the provisions of law on national defense,
security and industrial mobilization; production of key industrial chemicals
and key mechanical products in accordance with the law;
dd) Investment in the development of water plants,
power plants, water supply and drainage systems, bridges, roads, railways,
airports, seaports, river ports, airports, stations, and other particularly
important infrastructure works as decided by the Prime Minister;
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g) Investment projects in the manufacturing sector
that meet the following requirements:
g1) These projects have a minimum investment
capital scale of 12 trillion VND and must complete the disbursement of the total
registered investment capital within 05 years from the date of investment
approval according to investment laws;
g) These projects must use technology that meets
the requirements set forth by the Minister of Science and Technology;
h) These projects must be entitled to special
investment support and incentives specified in clause 2 Article 20 of the Law
on Investment. The Government shall elaborate on the period of disbursement of
the total registered investment capital of these projects;
i) Planting, caring for and protecting forests;
producing, reproducing and crossbreeding crops and livestock; investing in the
preservation of agricultural products after harvest, storing agricultural
products, aquatic products and food; producing, exploiting and refining salt,
except for the salt production specified in Clause 1 of Article 4 of this Law;
k) Cultivation of forest products;
l) Products from crops, planted forests, livestock
farming, aquaculture and the processing of agricultural products, and aquatic
products.
The income from the processing of agricultural and
aquatic products stipulated in this point must meet the requirements set forth
in clause 1, Article 4 of this Law;
m) Production of high-quality steel; production of
energy-saving products; manufacturing of machinery and equipment for
agriculture, forestry, fishery and salt production; production of irrigation
equipment; production of animal feed for livestock, poultry and aquatic
products;
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o) Investment in business operations of technical
facilities supporting small and medium-sized enterprises and small and
medium-sized enterprise incubators; investment in business operations of
co-working spaces supporting small and medium-sized startups in accordance with
the provisions of the Law on Provision of Assistance for Small and Medium-sized
Enterprises.
p) The People’s credit funds, microfinance
institutions, cooperative banks;
q) Cooperatives and cooperative unions operating in
the fields of agriculture, forestry, fishery, and salt production;
r) Private sector involvement in the fields of
education, training, vocational training, healthcare, culture, sports and
environment according to the List of types, criteria of scale and standards
prescribed by the Prime Minister; judicial assessment;
s) Investment in the construction of social housing
for sale, lease or lease-purchase for individuals eligible for social housing
support policies as stipulated by the Housing Law;
t) Publication in accordance with the provisions of
the Publishing Law;
u) The press (including advertisements in
newspapers) as stipulated by the Press Law.
3. Geographical areas entitled to corporate income
tax incentives as stipulated by the Government include:
a) Extremely disadvantaged areas;
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c) Economic zones, high-tech zones, high-tech
agricultural areas, and concentrated digital technology zones.
4. The government stipulates the application of tax
incentives for the following cases:
a) Cases of applying tax incentives based on
geographic criteria;
b) Tax incentives in the fields of agriculture,
forestry, fishery, and salt production;
c) The cases where an enterprise generates revenue
or income from investment projects (including new investment projects, expanded
investment projects, high-tech enterprises, high-tech agriculture enterprises,
and scientific and technological enterprises) in its first tax period and is
entitled to tax incentives for less than 12 months.
5. The newly established enterprise or the
enterprise with an investment project resulting from a merger, consolidation,
full division, partial division, change of ownership, or change of business
form shall be responsible for fulfilling the obligation to pay corporate income
tax (including any penalties, if applicable). At the same time, it shall
inherit corporate income tax incentives (including the losses that have not
been carried forward) of the enterprise or investment project prior to the
merger, consolidation, full division, partial division, or change of ownership,
provided that it continues to meet the eligibility requirements for corporate
income tax incentives and loss carryforward conditions as stipulated by law.
Article 13. Preferential tax
rates
1. The tax rate of 10% shall apply for 15 years to:
a) Incomes of enterprises from the execution of new
investment projects specified in points a, b, c, d and dd clause 2 Article 12
of this Law; income of enterprises specified in point e clause 2 Article 12 of
this Law;
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c) Incomes of enterprises from the execution of new
investment projects in the areas specified in point a clause 3 Article 12 of
this Law;
d) Incomes of enterprises from the execution of new
investment projects in high-tech zones, high-tech agriculture zones,
concentrated digital technology zones; new investment projects in economic
zones located in areas eligible for tax incentives as stipulated in points a
and b of Clause 3 of Article 12 of this Law. In cases where an investment
project in an economic zone is located in both an area eligible for tax incentives
and an area not eligible for tax incentives, tax incentives for the project
shall be determined in accordance with the Government’s regulations.
2. The tax rate of 10% shall apply to:
a) Incomes of enterprises from operations in the
sectors and industries specified in points k and l Clause 2, Article 12 of this
Law in the areas eligible for tax incentives specified in point b of Clause 3
Article 12 of this Law;
b) Incomes of enterprises from operations in the
sectors and industries specified in points i, r and s clause 2 Article 12 of
this Law;
c) Incomes of publishers from operations in the
sectors and industries specified in point t clause 2 Article 12 of this Law;
d) Incomes of cooperatives and cooperative unions
specified in point q clause 2 Article 12 of this Law in areas other than the
areas specified in clause 3 Article 12 of this Law;
dd) Incomes of press agencies in the sectors and
industries specified in point u clause 2 Article 12 of this Law;
3. The tax rate of 15% shall apply to incomes of enterprises
from operations in the sectors and industries specified in point l Clause 2
Article 12 of this Law located in areas other than the areas specified in
Clause 3 Article 12 of this Law;
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a) New investment projects in sectors and
industries eligible for incentives stipulated in points m, n, and o of Clause
2, Article 12 of this Law;
b) New investment projects executed in the areas
specified in point b clause 3 Article 12 of this Law;
c) New investment projects in economic zones in
areas other than the areas specified in points a and b clause 3 Article 12 of
this Law.
5. The tax rate of 17% shall apply to incomes of
the enterprises specified in point p clause 2 Article 12 of this Law.
6. The extension of the period and the application
of preferential tax rate shall be as follows:
a) The Prime Minister decides that the preferential
tax period may be extended for up to 15 years for the following projects:
a1) New investment projects stipulated in points a,
b, d and dd of Clause 2 Article 12 of this Law, with a minimum investment
capital of 6 trillion VND, which have a significant socio-economic impact, in
need of great encouragement;
a2) Investment project specified in point g clause
2 of Article 12 of this Law meeting one of the following criteria:
- Goods are produced with global competitive
capability. Revenue rises by over 20 trillion VND per year within 5 years from
the date on which the investment project generates revenue;
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- Investment projects in the field of technical
economic infrastructure, including: Investment in the development of water
plants, power plants, water supply and drainage systems, bridges, roads,
railways, airports, seaports, river ports, airports, terminals, new energy,
clean energy, energy-saving industries, and petroleum refining projects;
b) For a new investment project stipulated in point
h, clause 2, Article 12 of this Law, the Prime Minister decides the application
of a decrease in tax rate of not exceeding 50% of the tax rate specified in
clause 1 of this Article; the preferential tax period shall not exceed 1,5
times the preferential tax period specified in clause 1 of this Article and may
be extended for up to 15 years but must not exceed the duration of the
investment project.
7. The preferential tax period applicable to the
income generated from the execution of a new investment project by an
enterprise stipulated in this Article (including projects specified in point g,
clause 2 of Article 12 of this Law) shall begin from the first year in which
the new investment project of the enterprise generates revenue.
In cases where the enterprise is granted a
Certificate of high-tech enterprise, a Certificate of high-tech agriculture
enterprise, a Certificate of scientific and technological enterprise, a
Certificate of a high-tech application project, or a Confirmation of incentives
for supporting industry product manufacturing projects after the time of
revenue generation, the preferential tax period shall begin from the year of
issuance of the Certificate or Confirmation of incentives.
Article 14. Tax exemption and
tax reduction
1. It is eligible for tax exemption for up to 4
years and 50% tax reduction for up to 9 more years for:
a) Incomes of enterprises specified in clause 1
Article 13 of this Law;
b) Incomes of enterprises specified in point r
clause 2 Article 12 of this Law in the areas specified in points a and b clause
3 Article 12 of this Law; in cases where enterprise are not located in the
areas specified in point a and point b clause 3 Article 12 of this Law, they
are eligible for tax exemption for up to 4 years and 50% tax reduction for up
to 5 more years.
2. It is eligible for tax exemption for up to 2
years and 50% tax reduction for up to 4 more years for incomes of enterprises
specified in clause 4 Article 13 of this Law.
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4. The tax exemption or reduction period shall
begin from the first year in which taxable income is generated from the
investment project. In cases where the project does not generate any taxable
income during the three years starting from the first year in which the project
generates revenue, the tax exemption or reduction period shall begin from the fourth
year.
In cases where the enterprise is granted a
Certificate of a high-tech application project, a Certificate of high-tech
enterprise, a Certificate of high-tech agriculture enterprise, a Certificate of
scientific and technological enterprise, or a Confirmation of incentives for
supporting industry product manufacturing projects after the time of income
generation, the tax exemption or reduction period shall begin from the year of
issuance of the Certificate or Confirmation. In cases where income has not yet
been generated from the project in the year of issuance of the Certificate or
Confirmation, the tax exemption or reduction period shall begin from the first
year in which the income is generated. If, within the first three years from
the issuance of the Certificate or the Confirmation, the enterprise does not
have taxable income, the tax exemption or reduction period shall begin from the
fourth year following the issuance of the Certificate or the Confirmation.
5. Tax incentives for expansion investment
projects:
a) In cases where enterprise expands the scale,
enhances capacity, modernizes technology, reduces pollution or improves the
environment of its ongoing investment projects within the sectors, industries
and areas entitled to corporate income tax incentives stipulated in Article 12
of this Law (hereinafter referred to as "expansion investments”), its
additional income generated from investment in the expansion of these projects
will be eligible for tax incentives for the remaining period and is not be
required to separately record;
b) In cases where the preferential tax period of
the ongoing project has expired, the additional income generated from the
expansion investment project that meets the criteria specified in Clause 6 of
this Article shall be eligible for tax exemption, tax reduction, but shall not
be eligible for preferential tax rates. The tax exemption or reduction period
for additional income generated from expansion investments shall be equal to
the tax exemption or reduction period applicable to new investment projects
within the same sector, profession and area eligible for corporate income tax
incentives, and shall begin from the year in which the investment project
completes the registered investment capital.
The enterprise must separately record the
additional income generated from expansion investments in order to apply for
incentives. In cases where the addition income cannot be separately recorded,
it shall be determined based on the ratio of the original cost of newly acquired
fixed assets put into use for business operation to the total original cost of
fixed assets of the enterprise.
c) The tax incentives stipulated in this clause do
not apply to cases of expansion investments resulting from mergers,
acquisitions of enterprises, or ongoing investment projects.
6. An expansion investment project shall be
eligible for the incentives specified in point b clause 5 of this Article,
provided that it meets one of the following criteria:
a) The additional original cost of fixed assets
reaches the minimum cost prescribed by the Government upon completion of the
disbursement of the registered expansion investment capital for expansion
investment projects in sectors and industries eligible for corporate income tax
incentives, and expansion investment projects executed in areas eligible for
corporate income tax incentives;
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c) The designed capacity when the investment
project completes the disbursement of the registered expansion investment
capital increases by at least 20% after expansion investment.
Article 15. Other cases of tax
exemption and reduction
1. Enterprises engaged in manufacturing,
construction, and transportation that employ a significant number of female
workers shall be granted a reduction in corporate income tax equivalent to the
additional expenses incurred for female workers.
2. Enterprises employing a significant number of
ethnic minority workers shall be granted a reduction in corporate income tax
equivalent to the additional expenses incurred for ethnic minority workers.
3. Enterprises transferring technologies in
prioritized fields to organizations and individuals in disadvantaged areas and
public service providers in disadvantaged areas shall be entitled to a 50%
reduction in corporate income tax calculated on the income derived from
technology transfer and income from providing public services in disadvantaged
areas.
4. Enterprises specified in clause 2 and clause 3
Article 10 of this Law that are newly established from household businesses
shall be exempt from corporate income tax for two consecutive years from the
date of generating taxable income.
5. Public scientific and technological
organizations and public higher education institutions operating not for profit
shall be exempt from tax in accordance with the Government’s regulations.
6. The Government of Vietnam shall elaborate this
Article.
Article 16. Loss carryforward
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2. Enterprises whose losses incurred from transfers
of projects to explore, extract and process minerals; transfers of right to
participate in projects to explore, extract and process minerals; transfers of
right to explore, extract and process minerals may be carry forward the losses
to the next year and offset them against the taxable incomes from such
transfers. The period of loss carryforward shall comply with clause 1 of this
Article.
3. The Government of Vietnam shall elaborate this
Article.
Article 17. Contributions to
scientific and technological development funds
1. An enterprise, organization or public service
provider established in accordance with Vietnamese law may contribute up to 20%
of its assessable annual income to a scientific and technological development
fund.
2. Within five years after being allocated in
accordance with the provisions of clause 1 of this Article, if the enterprise,
organization or public service provider does not use the scientific and
technological development fund, or has used less than 70% of the fund or has
used it for unintended purposes, it shall transfer to state budget the
corporate income tax calculated on the income already contributed to the fund
but is not used or is improperly used plus (+) interest on that corporate
income tax.
The corporate income tax rate used for calculating
tax arrears is the tax rate applicable to the enterprise, organization or
public service provider during the time of operating the fund.
The interest rate for calculating the interest on
the tax arrears on the unused fund shall be the interest rate for five-year
term treasury bonds or ten-year term treasury bonds (in the absence of
five-year term treasury bonds) issued closest to the collection date, and the
interest payment period is two years.
The interest rate for calculating interest on the
tax arrears on the fund improperly used shall be the late payment interest rate
under the provisions of the Tax Administration Law, and the interest payment
period begins from the time the fund is set up and ends when tax arrears are
collected.
3. Enterprises, organizations and public service providers
are not allowed to record expenses from their scientific and technological
development funds as deductible expenses upon the determination of taxable
incomes in a tax period.
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5. For an enterprise currently in operation that
undergoes changes due to mergers, consolidations, full divisions, partial
divisions, changes of ownership or changes in business type, the newly
established enterprise or the enterprise established after merger,
consolidation, full division, partial division, change of ownership or change
in business type may inherit and shall be responsible for the management and
use of the scientific and technological development fund of the enterprise
prior to the merger, consolidation, full division, partial division, change of
ownership or change in business type.
Article 18. Conditions for tax
incentives
1. Corporate income tax incentives specified in
Articles 13, 14 and 15 of this Law shall apply only to enterprises which
implement regulations on accounting, invoices and documents and pay tax
according to declarations.
Corporate income tax incentives for new investment
projects (including investment projects falling under point g, clause 2,
Article 12 of this Law) as stipulated in Articles 13 and 14 of this Law do not
apply to cases of mergers, consolidations, full divisions, partial divisions,
changes of ownership, changes of business type, and other cases as regulated by
the Government.
2. Each enterprise must separate incomes from the
business operations eligible for tax incentives prescribed in Articles 4, 13,
14 and 15 of this Law from incomes from the business operations that are not
eligible for tax incentives; if these incomes cannot be separated, the incomes
from the business operations eligible for tax incentives shall be determined
according to the ratio of the revenue from or expenses for the business
operations eligible for tax incentives to the total revenue or total expense of
the enterprise.
3. The tax rates of 15% and 17% specified in clause
2 and clause 3 Article 10 of this Law and the tax incentives in Articles 4, 13,
14 and 15 of this Law do not apply to:
a) Incomes from transfers of capital, transfers of
the right to contribute capital; incomes from transfers of real estate, except
for incomes from investment in construction of social housing specified in
point s clause 2 Article 12 of this Law; incomes from transfers of investment projects
(except for transfers of projects to process minerals), transfers of the right
to participate in investment projects, transfers of the right to explore,
extract and process minerals; incomes from business operations outside Vietnam;
b) Incomes from the exploration and extraction of
petroleum and other rare resources, and incomes from mineral extraction and
extraction;
c) Incomes from the production and operation of
online video games; incomes from the production and sale of goods and services
subject to excise taxes as stipulated by the Excise Tax Law, except for
projects related to the production and assembly of automobiles, aircraft,
helicopters, gliders, yachts, and petrochemical refining;
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4. The tax rates of 15% and 17% specified in
clauses 2 and 3 of Article 10 of this Law do not apply to enterprises that are
subsidiaries or affiliated companies if the enterprises in the affiliation do
not meet the conditions for applying the tax rates stipulated in clauses 2 and
3 of Article 10 of this Law.
5. In cases where enterprises do not meet the
conditions for tax incentives, the competent authorities shall collect the tax
arrears and impose penalties for violations according to the provisions of law.
6. The Government of Vietnam shall elaborate clause
5 of this Article. The Ministry of Finance shall stipulate the procedures
and application for tax incentives set forth in Articles 4, 13, 14, and 15 of
this Law.
Chapter IV
IMPLEMENTATION PROVISIONS
Article 19. Entry into force
1. This law comes into force from October 1, 2025
and shall apply from the corporate income tax period of 2025.
2. Law on Corporate Income Tax No. 14/2008/QH12
amended by Law No. 32/2013/QH13, Law No. 71/2014/QH13, Law No. 61/2020/QH14,
Law No. 12/2022/QH15, and Law No. 15/2023/QH15 shall cease to be effective from
the effective date of this Law.
3. In cases of Organization for Economic
Cooperation and Development (OECD) of the United Nations has more favorable
provisions and guidelines for taxing rights of source countries, including
Vietnam, the Government shall provide specify regulations for implementation.
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1. For enterprises with investment projects that
are eligible for corporate income tax incentives in accordance with the
provisions of law on corporate income tax at the time of licensing or issuance
of Investment Certificates, or grant of investment permission in accordance
with the provisions of law on investment, in the event that the law on
corporate income tax is amended and the enterprises meet conditions for tax
incentives in accordance with the amended law, the enterprises may choose to
enjoy tax incentives based on the applicable tax rates and tax exemption or
reduction periods according to the regulations in effect at the time of
licensing or issuance of Investment Certificates, or grant of investment
permission, or according to the provisions of the amended law for the remaining
tax incentive period.
2. In the case where an enterprise has an
investment project that is not eligible for incentives under the provisions of
legislative documents on corporate income tax prior to the effective date of
this Law but is eligible for incentives under the provisions of this Law, the
incentives as stipulated in this Law shall be applied for the remaining period
starting from the tax period of 2025.
This Law was passed on June 14, 2025, by the
XVth National Assembly of the Socialist Republic of Vietnam at its 9th
session.
CHAIRPERSON OF
THE NATIONAL ASSEMBLY
Tran Thanh Man