Ministry proposes lowering CIT for SMEs
The Ministry of Finance has proposed cutting corporate income tax (CIT) rates on small and micro businesses from the current 20 percent to 15-17 percent.
The idea was raised in a National Assembly draft resolution which the ministry recently published for comments.
The move aims to promote the development of small- and medium – sized enterprises and to encourage business households to transform into enterprises, as well as enhance their competitiveness and create jobs.
