Vietnam mulls tax support extension for businesses



Vietnam is mulling extending tax support policies throughout 2023 as part of an effort to support businesses, local media reported on Monday.

Businesses, household businesses and individuals were to continue to enjoy a 30-percent cut in land-use fees in 2023, on top of an extension on their tax cut despite shortfalls in state budget collection, local newspaper Vietnam News reported.

The proposal to extend land use tax reduction was made by the finance ministry as companies in land-intensive sectors like real estate, agriculture, mining are encountering difficulties triggered by credit crunch and slowed demand, according to a recent report by the online government news website baochinhphu.— Xinhua