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Vietnamese garment & textile sector to benefit from tax cut
10
Nov '11
The small- and medium-sized textile and garment enterprises in Vietnam are seen to benefit from the latest reduction in taxes.

The corporate income tax that these units need to pay during the current year will decrease by 30 percent, according to a decree issued by the Government.

Besides, garments and textiles, the tax cut would also benefit entrepreneurs in leather, footwear and agriculture sector and other sectors that contribute to the country's socio-economic development.

However, businesses linked to manufacturing and service trading would not gain from this reduction. Moreover, the reduction would also not be available to subsidiaries of the holding firms.

Fibre2fashion News Desk - India

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