The Law on Severance tax 2009 of Vietnam was promulgated on November 25, 2009, which provides for severance tax-liable objects, severance tax payers, severance tax bases, and severance tax declaration, payment, exemption and reduction. Notably, the law includes provisions on the frame severance tax tariff.
The Law on Severance tax 2009 of Vietnam was promulgated on November 25, 2009 and officially effective from July 01, 2010, of which one of the fundamental contents is the regulation on cases of severance tax exemption and reduction.
Severance tax-liable objects are natural resources within the land, islands, internal waters, territorial sea, contiguous zones, exclusive economic zone, and continental shelves under the sovereignty and jurisdiction of Vietnam.
On November 25, 2009, the National Assembly of Vietnam approved the Law on Severance tax 2009, which provides for severance tax-liable objects, severance tax payers, severance tax bases, and severance tax declaration, payment, exemption and reduction.
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