The Ministry will waive business license taxes in the first year for newly established businesses.
The Ministry of Finance also plans to waive the business license tax for small and medium enterprises that had been business households for three years from when they had been issued their Business Registration Certificate. Secondary schools, primary schools, and kindergartens, both public and non-public, are also exempted.
This exemption may reduce state budget revenue by VND 200 billion per year but the position of Vietnam's business establishment target will be promoted.
