Resolution No. 29/2012/QH13 dated June 21, 2012 of the National Assembly introducing a number of tax policies in order to resolve difficulties for organizations and individuals

NATIONAL ASSEMBLY --------	SOCIALIST REPUBLIC OF VIET NAM Independence - Freedom - Happiness ---------------
No. 29/2012/QH13	Hanoi, June 21, 2012

RESOLUTION

INTRODUCING A NUMBER OF TAX POLICIES IN ORDER TO RESOLVE DIFFICULTIES FOR ORGANIZATIONS AND INDIVIDUALS

THE NATIONAL ASSEMBLY OF THE SOCIALIST REPUBLIC OF VIETNAM

Pursuant to the Constitution of the Socialist Republic of Vietnam in 1992, amended and supplemented under the Resolution No. 51/2001/QH10;

Pursuant to the Law on National Assembly organization No. 30/2001/QH10, amended and supplemented under the Law No. 83/2007/QH11; the Law on Tax administration No. 78/2006/QH11; the Law on Personal income tax No. 04/2007/QH12, the Law on Value-added tax No. 13/2008/QH12; the Law on Enterprise income tax No. 14/2008/QH12;

After considering the Government’s Statement No. 123/TTr-CP on May 18, 2012; The Inspection report No. 561/BC-UBTCNS13 on May 18, 2012 of the Finance and Budget Committee; after obtaining the opinions from the National Assembly members and the Report on explanation, acquisition and amendment No. 166/BC-UBTVQH13 on June 15, 2012 of the Standing committee of the National Assembly of the Socialist Republic of Vietnam about the Draft Resolution on the introduction of a number of tax policies on resolving difficulties for organizations and individuals;

RESOLVES:

Article 1. Introducing a number of preferential tax policies on organizations and individuals

1. Reducing 30% of the enterprise income tax amount payable in 2012 for:

a) Medium and small enterprises, excluding medium and small enterprises doing lottery, real estate, securities, finance, banking, insurance business or producing goods, providing services subject to special consumption tax; first-class enterprises, special-class enterprises belonging to economic corporation and general companies;

b) Intensive-labor enterprises that produce, process and treat: agricultural products, forestry products, aquacultural product, textile and garment, leather and footwear, electronic components; building socio-economic infrastructural constructions