A new corporate income tax law has been drafted by the Ministry of Finance of Vietnam. The law is expected to be submitted to parliament for consultation in October 2024.
The final approval of the draft is expected in May 2025, and it is expected to come into effect on January 1, 2026. Some key changes include adding new industries to the list of industries eligible for corporate income tax incentives, introducing new corporate income tax rates of 15% or 17% for micro and small enterprises depending on their total revenue for the previous year, and introducing new corporate income tax incentives in economic zones and high-tech zones.