The enterprises whose total revenue in 2020 do not exceed VND200 billion shall have their corporate income tax reduced by 30%

Since 03 August 2020, the Decree No.114/2020/ND-CP elaborating the National Assembly’s Resolution No.116/2020/QH14 on the reduction in corporate income tax payable in 2020 in respect to the enterprises, cooperatives, public service providers and other organizations officially took effect. Accordingly, the individuals and organizations need to note the notable point as follows:

1. The regulations in relation to the reduction in corporate income tax payable (the “CIT”)

   i. CIT payable in the fiscal year 2020 by an enterprise whose total revenue in 2020 does not exceed VND200 billion shall be reduced by 30%

  ii. The total revenue in 2020 that is the basis for the determination of the eligibility for CIT reduction is the total revenue of an enterprise in the fiscal year 2020, including: (i) revenue from sales of goods, processing and service provision, subsidies and extra charges to which the enterprise is entitled as prescribed by the Law on Corporate Income Tax and its guiding documents.

2. The specific regulations on declaring the CIT

   i. In case the enterprise estimates that its total revenue in the fiscal year 2020 will not exceed VND200 billion, it will pay shall 70% of the quarterly CIT payable CIT;

  ii. At the end of the fiscal year 2020, in case the total revenue in 2020 of the enterprise does not exceed VND200 billion, it will declare the CIT reduction of the year 2020 when making the annual CIT return as per regulations.

  iii. The fiscal year will be the calendar year, in case the fiscal years of the enterprise that do not apply, the calendar years shall be determined according to the Law on Corporate Income Tax and its guiding document.

A fine up to VND 3 million shall be imposed in case of forcing another person to drink alcohol, beer

Since 15 November 2020, the Decree No.117/2020/ND-CP on the penalties for administrative violation against medical laws will officially take effect. Accordingly, the individuals and organizations need to note the notable point as follows:

1. A fine up to VND 20,000,000 shall be imposed for the violations pertaining to the monitoring infectious diseases

   i. Concealment, not report or not promptly report the development of the group A diseases of oneself or of other people;

   ii. Deliberately report, provide false information on group A diseases; and

   iii.Deliberately spread the pathogens of the infectious diseases group A.

2. A fine up to VND 20,000,000 shall be imposed for the violations against the regulations on isolation

   i. A fine up to VND 10,000,000 shall be imposed in case of refusing or avoidance of the isolation or enforced isolation by competent authorities; and

   ii. A fine up to VND 20,000,000 shall be imposed in case of refusing or avoiding the isolation, the enforced isolation by competent authority in respect to group A diseases, the border quarantine subjects who suffer from the group A disease or requested by the competent authority’s request.

3. A fine up to VND 20,000,000 shall be imposed for the violations against the regulations on epidemic prevention

   i. A fine up to VND 10,000,000 shall be imposed if: (i) concealing the infection of oneself or of other people after the epidemic is announced; (ii) failure or refusal to carry out cleaning and disinfection in the infected area;

   ii. A fine up to VND 20,000,000 shall be imposed if: (i) failure to suspend the operations of public food and beverage establishments at risk of spreading the disease in the infected  area; (ii) failure to impose a ban on the foods that are vectors of pathogens and (iii) failure to take measures for preventing crowds or to suspend the businesses at public places.

4. The regulations on the fine level for the violations against the regulations on the alcohol beverages

   i. A fine up to VND 3,000,000 shall be imposed for the following acts: (i) the consumption of alcohol beverages before, during working and learning hours and break time; and (ii) Force other people to drink alcohol beverages;

   ii. A fine up to VND 10,000,000 shall be imposed for the violations against the regulations on selling, supplying alcohol beverages;

   iii. A fine up to VND 20,000,000 shall be imposed for the violations against the regulations on alcohol beverages promotion; and

   iv. A fine up to VND 40,000,000 shall be imposed for the violations against the regulations on alcohol beverages advertisement.