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VCSC Daily - Markets mixed on tax subsidy proposal

VND25 trillion tax subsidy proposed for businesses. In order to spur the economic growth and incentive weak businesses, the Ministry of Finance just proposed a VND25 trillion tax subsidy package. The government will lower corporate income taxes by 30% for small and medium businesses in some specific production sectors such as garment and agriculture. In addition, small and medium businesses can also defer their Value Added Taxes in April, May, and June to the end of the year.