Tax incentives won't apply to all firms

Small and medium sized property enterprises did not qualify for a tax payment extension even if they completed all accounting documents and invoices under the law and registered to pay tax as declared, according to Document No 3898 issued by the Finance Ministry.

However, if businesses meeting the above conditions use a large number of labourers for the construction of socio-economic infrastructure projects, they will enjoy a 30-per-cent reduction of last year's corporate income tax under Decision No 08/2011/QH13.

Qualified infrastructure projects include electricity plants, water supply systems, roads, airports, seaports, schools, hospitals, and others.

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