HCMC Gov’t Wants New Income Tax Law Delayed

Posted by Reading Time: < 1 minute

Apr. 9 – The local government of Ho Chi Minh City has petitioned that the new income tax law slated for June 1 be moved to next year.

The proposal was one of the measures suggested by the HCMC government to help push for more business despite the global recession.

One of the measures also called for government direct ministries, enterprises, and other local agencies to support domestic products to help local businesses increase sales.

HCMC city officials also suggested that subsidies be extended until December 2010 to support businesses. Moreover, it was proposed that the People’s Committee chair be authorized to pick contractors for projects less than VND10 billion and choose investors for projects of $50 million or less, reports Thanh Nien News.