On Article 1, the National Assembly resolved to reduce by 30 percent the personal income tax payable for the 2026 and 2027 tax periods on business income earned by resident individuals whose annual revenue in 2026 and 2027 does not exceed VND10 billion.
Under Article 2, the National Assembly resolved to reduce by 30 percent the corporate income tax payable for the 2026 and 2027 tax periods for enterprises and organizations established under Vietnamese law whose annual revenue in 2026 and 2027 does not exceed VND10 billion.
The provision excludes enterprises formed through the division or separation of an enterprise after the resolution takes effect if the combined revenue of the divided or separated enterprises exceeds VND10 billion in 2026 or 2027.
For enterprises already receiving tax incentives under the Corporate Income Tax Law or other laws and resolutions of the National Assembly, the 30 percent corporate income tax reduction will be calculated based on the corporate income tax payable after tax incentives have been deducted.
The resolution takes effect on August 24 and applies to the 2026 and 2027 tax periods.
Earlier, presenting a report explaining, incorporating feedback on and revising the draft resolution, Finance Minister Ngo Van Tuan said the VND10 billion revenue threshold would make 99.86 percent of individuals and household businesses and more than 81 percent of enterprises eligible for the policy.
Thus, household businesses, individual businesses and enterprises with annual revenue below VND10 billion account for a relatively large proportion. The tax reduction aims to provide targeted support to eligible groups, namely household businesses, individual businesses, and small and micro enterprises whose resilience remains limited and which are relatively heavily affected by difficulties in production and business activities in the current context.
The VND10 billion revenue threshold is also consistent with the criteria for identifying micro-enterprises in the trade and service sectors under the Law on Support for Small- and Medium-Sized Enterprises and its implementing decree.
The minister also said the 30 percent corporate income tax reduction would provide significant support to eligible groups while ensuring budget balance. The corporate income tax reduction will not apply to enterprises established through the division or separation of an enterprise after the resolution takes effect if the total revenue of the enterprises formed after the division or separation exceeds VND10 billion in 2026 or 2027.
Also on August 24, the National Assembly approved a resolution on the investment policy for the National Target Program on cultural and socio-economic development, rural development, ethnic minority areas and mountainous areas for 2026-2035; amendments and supplements to several articles of the Law on the State Bank of Vietnam, the Law on Anti-Money Laundering and the Law on Credit Institutions.
The National Assembly also approved a resolution on special mechanisms to address difficulties and obstacles facing several wind and solar power projects, as well as a resolution on separating the Ninh Thuan nuclear power project into independent projects.
