Proposal to Cut Penalties for Businesses Dormant for Years

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• Proposal to cut late tax filing penalties by up to 70% for dormant businesses

  The Ministry of Finance proposes cutting late tax filing penalties by 30–70% for businesses that have ceased operating but have not closed their tax code, or that no longer operate at their registered address, under a draft special-policy resolution open for public comment. The reduction is 70% if missing returns are filed by 30/6/2027, 50% from 1/7/2027 to 31/12/2027, and 30% from 1/1/2028 to 30/6/2028; household businesses using the declaration method would pay half the penalty, while those on lump-sum tax are proposed to be exempt. The ministry also proposes waiving returns for periods with no tax obligations, and the policy would not apply to cases already penalised or under investigation for tax or invoice fraud. For an illustrative business not operating at its registered address for 10 years, the estimated total payable to close its tax code is 55 million VND, of which about 23 million VND is late-payment penalties. Over 753,000 taxpayers are in these statuses for more than 10 years, about 25% of all taxpayers in the two statuses; among the roughly 287,000 enterprises and organisations in this group, 172,147 have no outstanding tax debt, about 60%.

  VnExpress·29/10, 03:00taxesbusinessesregulation
• A week of 35 draft laws and an “unprecedented” pace in institutional reform

  Since the National Assembly session opened, the government has submitted 35 draft laws along with a report on implementing Resolution No. 206/2025/QH15, and about 60 laws were discussed over roughly one week. The government expects to submit 78 laws and resolutions for Assembly approval in 2026, focusing on tax exemptions and reductions, land resources, social housing and support for private enterprises. According to the report, the review abolished 56 conditional business sectors and lines of trade, cut 697 administrative procedures, and reduced compliance time by 53% and compliance costs by 55%, saving about VND 23 trillion per year. The draft amendment to the Law on Real Estate Business removes the registration procedure for apartment sales contracts, moving them to public disclosure on the Housing and Real Estate Market Information System.

  CafeF·25/10, 03:57Vietnamreal estateregulation
• Expenses deductible when determining corporate income tax taxable income

  The Cần Thơ Tax Department advised Ms. Dương Vy Thảo that monthly production allowances and production remuneration paid by a public non-business unit that partially self-funds recurrent expenses (group 3) to staff directly involved in production and to managers may be counted as deductible expenses when determining corporate income tax taxable income. Under Decree No. 320/2025/NĐ-CP, the expense must be actually incurred, supported by sufficient invoices and documents, and paid by non-cash means for transactions of 05 million VND or more. Salaries and allowances payable but not actually paid by the annual tax finalization filing deadline are not deductible, unless the enterprise has set up a salary reserve fund capped at 17% of the actual salary fund. The unit should review beneficiaries, payment levels, approval authority and documents, and align with the financial autonomy regime applicable to it.

  CafeF·24/10, 01:45taxesbusinessesVietnam
• Household businesses with revenue of up to VND 10 billion may pay tax based on revenue

  The government has proposed letting individuals and household businesses with revenue of up to VND 10 billion choose to pay tax on revenue at rates of 0.5% to 5% depending on the sector, instead of only those under VND 3 billion as now. According to the Ministry of Finance, only 0.14% of the country's 2.7 million household businesses have revenue above VND 10 billion, so 99.86% would be able to choose the simpler method. Businesses with annual revenue of up to VND 10 billion would also be offered a similar choice. The Committee on Economic and Financial Affairs argued that many tax provisions in the draft SME Development Law overlap with existing laws and proposed moving them to a bill amending 3 tax laws, while delegate Nguyễn Ngọc Sơn asked that the rules apply from the 2027 tax year to avoid retroactivity. Earlier, on August 24, the National Assembly passed a resolution cutting personal income tax and corporate income tax by 30% for those with revenue of up to VND 10 billion, with 96% of delegates in favour.

  VnExpress·17/10, 11:49taxesbusinessesVietnam
• Proposal Says 'One-Person Enterprises' Need Not Have a Chairman or Chief Accountant

  A draft Law on the Development of Small and Medium Enterprises, presented to the National Assembly on Oct. 17 by Finance Minister Ngô Văn Tuấn, proposes that 'one-person enterprises' (single-member LLCs owned by an individual) not be required to have a company chairman or chief accountant, to cut costs after converting from household businesses. The draft also proposes shortening registration time, exempting some initial fees, and raising the revenue threshold for the simplified tax method to 10 billion VND per year. SME criteria would be based on average annual employee numbers, capped at 300 workers, 400 billion VND in revenue and 150 billion VND in total capital. The Economic and Finance Committee said these criteria fluctuate yearly and are hard to apply, proposing data from the two to three preceding years, and flagged that setting aside 20 hectares per zone or 5% of land area may be hard to implement.

  CafeF·17/10, 10:30businessestaxesVietnam
• Plan to raise the revenue threshold for defining small and medium enterprises to VND 400 billion

  The government proposes raising the annual revenue threshold for defining small and medium enterprises to VND 400 billion, up VND 100 billion from current law, and the capital threshold to VND 150 billion. The workforce criterion would be replaced by an average annual workforce of no more than 300 people. The draft Law on Development of Small and Medium Enterprises, submitted to the National Assembly by Finance Minister Ngô Văn Tuấn on October 17, proposes a lower-than-standard corporate income tax rate, a three-year corporate income tax exemption from the first business registration certificate, and simpler tax calculation methods for businesses and individuals with annual revenue up to VND 10 billion. The National Assembly's Economic and Financial Committee agrees a new law is needed to replace the 2017 law, but says the criteria are impractical because they fluctuate yearly and depend on prior-year financial statements, and recommends using data from the two to three preceding years. The National Assembly will debate the draft on October 30 and vote on adoption on November 20.

  VnExpress·17/10, 09:16businessestaxesVietnam

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