1. Corporate income tax rate in 2024

1.1. Corporate income tax rate 20%

The corporate income tax rate is 20%, except for enterprises subject to tax rates from 32% to 50% in section 1.2 and subject to preferential tax rates specified in section 2.

Note: Enterprises established and operating in accordance with Vietnamese law, including cooperatives and non-business units operating in the production and trading of goods and services with a total annual revenue of not more than 20 billion VND are allowed. Apply a tax rate of 20%.

The total annual revenue used as a basis for determining an enterprise subject to the 20% tax rate is the total revenue from selling goods and providing services of the enterprise in the immediately preceding year.

1.2. Corporate income tax rate ranges from 32% to 50%

The corporate income tax rate for search, exploration, and exploitation of oil, gas, and other rare resources in Vietnam ranges from 32% to 50%.

- For oil and gas search, exploration and exploitation activities, based on the location, exploitation conditions and mine reserves, the Prime Minister decides on specific tax rates appropriate to each project and each year. business establishments at the request of the Minister of Finance.

- For platinum, gold, silver, tin, tungsten, antimony, gemstones, and rare earth mines, the tax rate is 50%.

- For platinum, gold, silver, tin, tungsten, antimony, precious stones, and rare earth resource mines with 70% or more of the allocated area in areas with particularly difficult socio-economic conditions in The list of areas with corporate income tax incentives applies a corporate income tax rate of 40%.

(Article 10 Decree 218/2013/ND-CP)

2. Subjects to preferential corporate income tax rates

* Applying a tax rate of 10% for a period of fifteen years

Apply a tax rate of 10% for a period of fifteen years for:

- Enterprise income from implementing new investment projects in areas with particularly difficult socio-economic conditions, economic zones, high-tech zones;

- Enterprise income from implementing new investment projects, including:

+ Scientific research and technology development;

+ High technology applications in the list of high technologies prioritized for investment and development according to regulationsHigh Technology Law;

+ High technology incubation, high technology business incubation;

+ Venture capital investment for high technology development belongs to the list of high technologies prioritized for development investment according to the provisions ofHigh Technology Law;

+ Investment in construction and business of high-tech incubators and high-tech business incubation facilities;

+ Investing in the development of particularly important state infrastructure according to the provisions of law;

+ Production of software products;

+ Production of composite materials, light construction materials, and rare materials;

+ Production of renewable energy, clean energy, energy from waste destruction;

+ Development of biotechnology;

+ Environmental protection;

- Income of high-tech enterprises and agricultural enterprises applying high technology according to regulationsHigh Technology Law;

- Enterprise income from implementing new investment projects in the manufacturing sector (except for projects producing goods subject to special consumption tax or mineral exploitation projects) that meets one of two criteria after:

+ The project has a minimum investment capital of six trillion VND, disbursement no more than three years from the date of issuance of the Investment Certificate and has a minimum total revenue of ten thousand billion VND/year, slow at least three years after the year of revenue;

+ The project has a minimum investment capital of six trillion VND, disbursement within three years from the date of issuance of the Investment Certificate and employs over three thousand workers.

+ Enterprise income from implementing new investment projects producing products on the List of supporting industrial products prioritized for development that meet one of the following criteria:

++ Industrial products supporting high technology according to regulationsHigh Technology Law;

++ Industrial products supporting the production of products in the following industries: textile - garment; leather - shoes; electronics and information technology; automobile production and assembly; mechanical engineering that as of January 1, 2015 cannot be produced domestically or can be produced but must meet the technical standards of the European Union (EU) or equivalent.

- Enterprise income from implementing investment projects in the manufacturing sector, except for projects producing goods subject to special consumption tax and mineral exploitation projects, with a minimum investment capital of twelve trillion VND, using technology must be appraised according to regulationsHigh Technology Law, Law on Science and Technology, disbursement of total registered investment capital no more than five years from the date of investment permission according to the provisions of investment law.

* Apply tax rate of 10%

Apply tax rate of 10% to:

- Enterprise income from carrying out socialization activities in the fields of education - training, vocational training, health, culture, sports and environment;

- Enterprise income from implementing investment projects - social housing business for sale, lease, or lease purchase for the subjects specified in Article 53 of this Law.Housing law;

- Income of press agencies from print newspaper activities, including advertising on print newspapers according to regulationsPress Law; Publishing agency's income from publishing activities according to regulationsPublishing Law;

- Enterprise income from: planting, caring for, and protecting forests; cultivating and processing agricultural and aquatic products in areas with difficult socio-economic conditions; cultivating forest products in areas with difficult socio-economic conditions; production, multiplication and cross-breeding of plant and animal breeds; producing, exploiting and refining salt, except for salt production specified in Clause 1, Article 4 Law on Corporate Income Tax 2008; Invest in post-harvest preservation of agricultural products, preservation of agricultural products, aquatic products and food;

- Income of cooperatives operating in the fields of agriculture, forestry, fishery, and salt production that are not located in areas with difficult socio-economic conditions or areas with special socio-economic conditions difficulties, except for the cooperative's income specified in Clause 1, Article 4 Law on Corporate Income Tax 2008.

* Apply tax rate of 17% for a period of ten years

Apply tax rate of 17% for a period of ten years for:

- Enterprise income from implementing new investment projects in areas with difficult socio-economic conditions;

- Enterprise income from implementing new investment projects, including: high-grade steel production; production of energy saving products; manufacturing machinery and equipment for agricultural, forestry, fishery and salt production; production of irrigation equipment; producing and refining animal, poultry and aquatic feed; developing traditional industries.

- Income of the People's Credit Fund and microfinance institutions.

* Apply tax rate of 15%

Apply a tax rate of 15% to income of farming, livestock, and processing enterprises in the agricultural and fisheries sectors that are not located in areas with difficult socio-economic conditions or areas with poor economic conditions. extremely difficult socio-economic conditions.

* Extend the period of preferential tax rates:

The extension of the preferential tax rate application period is prescribed as follows:

- For projects that need to especially attract large-scale investment and high technology, the preferential tax rate application period may be extended but the extension period shall not exceed fifteen years;

- For projects specified in Point e, Clause 1, Article 13 Law on Corporate Income Tax 2008 meets one of the following criteria:

+ Producing globally competitive products and goods, with revenue reaching over twenty trillion VND/year no later than five years from the date of revenue from the investment project;

+ Regularly employ over six thousand workers;

+ Investment projects in the field of economic and technical infrastructure, including: investment in developing water plants, power plants, water supply and drainage systems, bridges, roads, railways, airports and seaports , river ports, airports, railway stations, new energy, clean energy, energy saving industry, petrochemical refinery projects.

The Prime Minister decided to extend the preferential tax rate application period, but the extension period must not exceed fifteen years.

* Time to apply specified preferential tax rates

The preferential tax rate application period is calculated from the first year the enterprise's new investment project has revenue; For high-tech enterprises and agricultural enterprises applying high technology, it is counted from the date of certification as a high-tech enterprise or agricultural enterprise applying high technology; For high-tech application projects, it is calculated from the date of issuance of the high-tech application project certificate.

(Article 13 Law on Corporate Income Tax 2008, revised in 2013, 2014)