30% reduction in personal and corporate income tax proposed
State budget revenue is expected to decline by approximately VND 3.191 trillion ($112.12 million) in 2026 and VND 3.51 trillion ($134.2 million) in 2027.
Typhoon-affected businesses eligible for tax reduction
Property damage caused byTyphoon Yagi estimated at around VND40 trillion ($1.629 billion).
Further cut to environmental tax on jet fuel to help airlines
The Ministry of Finance has proposed that the reduction on the environmental protection tax for jet fuel be changed from the current 30 per cent to 50 per cent from January 1 to the end of 2022. If approved, the 2022 budget would see revenue fall by more than VND1.5 trillion ($66.11 million). The policy will increase the financial capacity of airlines to overcome the difficulties from Covid-19.