A number of large manufacturers slashed car prices in early October, signaling a fierce race in the Vietnamese auto market.

For many people, the news that automobile manufacturers have paid high amounts of tax to the state in the context of slow auto sales indicates that cars are being sold at sky-high prices in Vietnam.

The COVID-19 pandemic has worsened the shortage of cold storage space in Ho Chi Minh City and surrounding areas as goods pile up as a result of lack of demand.

The Government's 30% corporate income tax cut was a step in the right direction but it could have been more inclusive by offering support to small businesses that were in desperate need of cash due to the difficulties caused by the COVID-19 pandemic, said business leaders and industry experts.

Thirty biggest tax payers over the past three decades were honoured with certificates of merit during a ceremony in Hanoi on October 5.

VOV.VN - The Government is drafting second economic relief packages aimed at assisting the national economy, especially businesses, in the face of the ongoing COVID-19 crisis, with experts suggesting support policies that could be more effective than the initial packages.

The Government has decided to implement a 30% corporate income tax (CIT) cut for certain businesses for the 2020 financial year.

The Ministry of Culture, Sports and Tourism has asked Prime Minister Nguyen Xuan Phuc for urgent support for tourism businesses impacted by the second wave of COVID-19.

Providing a 30% income tax cut to all businesses regardless of scale will not be of much benefit since most are making losses, analysts warn.

The mining industry faced difficulties in the first eight months of this year due to being unable to enjoy tax and land rental incentives, said Nguyen Huu Quang, deputy head of the National Assembly's Committee on Finance and Budget.