HCM City: More than 77,000 enterprises subject to tax reduction

Professional activities at HCM City Tax Department. Photo: T.H

According to HCM City Tax Department, after the National Assembly passed the resolution reducing 30% of payable amount of corporate income tax in 2020 for businesses with revenue of less than VND 200 billion, HCM City Tax Department implemented a review based on annual revenue in 2019 and determined 231,329 enterprises had total revenue of less than VND 200 billion in 2019, 88% of the total number of enterprises.

Among of them, 77,388 businesses generated payable corporate income tax, accounting for 29.44% of the total number of enterprises.

Once the support policies of the Government were issued, the HCM City Tax Department quickly implemented and instructed taxpayers to conduct tax payment in online forms through media and email to ensure the information delivery of policy could reach businesses and households in a timely fashion.

For the implementation of Decree 41/2020/ND-CP, HCM City Tax Department has deployed to 255,904 businesses and 43,778 individual businesses subject to the decree. Up to now, 41,498 paper of taxpayers' renewals (including 24,168 businesses and 17,330 individual businesses).

For the implementation of Resolution 42/NQ-CP, HCM City Tax Department has worked with districts to check the operational status of individual businesses that temporarily stopped operation for support. Up to now, through appraisal, the tax authority has identified 1,239 cases of business households eligible for support.

To remove difficulties for taxpayers affected by the pandemic, HCM City Tax Department would continue to communicate and guide taxpayers to carry out procedures to receive support policies.