This is one of the highlights of the Decree No. 22/2020/ND-CP on amendments and supplements to the Decree No. 139/2016/ND-CP regulating license tax.
This Decree adds more individual or institutional applicants are eligible for exemption from license tax obligations for the first year of their establishment, production or business (from January 1 to December 31 of the calendar year), specifically including:
– New businesses with new tax identification numbers (TIN) and corporate identification numbers (CIN);
– Family households, persons or collectives starting their production or business for the first time;
– Branches, representative offices and business locations of both applicants that are established during the period of validity of license tax exemption.
Moreover, public universal education institutions and preschool education institutions will be granted license tax exemption as provided in this Decree.
Decree No. 22/2020/ND-CP is taking effect on February 25, 2020. Source: https://thuvienphapluat.vn/news/headlines/27550/new-businesses-are-granted-license-tax-exemption-for-their-first-business-year