5:24:34 PM | 4/22/2009
The Vietnamese government has recently announced plans to slash taxes on sales of goods and services effective from May 1 to end-2009, as part of its added efforts to fire up the domestic demand and boost the economy.
The government will halve value added tax on fiber and apparel products, footwear, paper, cement, brick and motorcycles of capacity of 125 cubic centimeters to 5 per cent, the government said.
The government will also allow importers of machinery, equipment and spare parts to delay tax payments by 180 days and apparel makers to enjoy a 30 per cent cut in corporate income tax payments in the fourth quarter.
It will also cut 50 per cent of registration fees for 10-seat automobiles during the period.
Earlier, the government said it will spend US$6 billion to stimulate the domestic demand, state media said. (chinhphu.vn, Labor)
Vietnamese
