Restructured state firms let to remove tax debts

This may be cancelled according to the main content of a draft tax law proposed by the Ministry of Finance for submission to the National Assembly this October.

According the finance ministry, state-owned enterprises that are undergoing restructuring will not be saddled with their existing debts when they are sold.

This removal may be applicable to the equitised state firms where their tax debts were not deducted. Remaining tax debts in state firms has long been an issue which the current law seems to have failed to solve.