Gov’t promises more incentives for SMEs

VGP – The Government has asked the Ministry of Finance (MoF) to consider tax exemption options for small and medium-sized enterprises (SMEs) in June.

June 08, 2011 6:40 PM GMT+7

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The options would be submitted to the National Assembly Standing Committee for approval.

This is part of the PM’s recent directions contained in Resolution of the Government’s regular meeting in May.

With the move, the Government hopes it can partly assist SMEs in overcoming the hard time to stabilize and boost production.

Earlier, the MoF on April approved for the delay of payments of income tax for SMEs within 12 months. Around 200,000 out of 360,000 SMEs were estimated to have their income tax worth around VND 7 trillion delayed.

As a biggest economic hub in the country, Hồ Chí Minh City is applying preferential mechanisms for SMEs, such as credit guarantee service and establishment of scientific funds, said Vice Chairman of the Municipal People’s Committee Nguyễn Thị Hồng.

The locality has also proposed establishing another fund to support research and creation of new technologies in service of production, said Ms. Hồng.

According to Circular 05/2011/TTLT-BKHĐT-BTC, which came into effect on May 16, 2011, the Government will cover 50% of expenses of training courses on business startup and governance held for SMEs./.

By Kim Anh