HCMC – National Assembly (NA) deputies have thrown support behind a proposed uniform corporate income tax rate of 10% for all media formats. This is the preferential rate which has applied to print media only.
This is one of the proposed amendments to the Corporate Income Tax Law.
The draft of the revised Corporate Income Tax Law was tabled on May 12 at the ongoing ninth sitting of the 15th NA. The proposed revision aims to support the media sector amid declining advertising revenues and ongoing restructuring efforts.
Currently, print media and related advertising income benefit from a 10% tax rate, while other media formats are subject to the standard 20% rate. The amendment extends the 10% rate to all types of media.
Lawmakers noted that many media outlets, which are public service entities, are struggling with falling revenues due to the rise of digital platforms. To address this, the NA Standing Committee has endorsed the proposal to help media outlets navigate the challenges of digital transformation.
During the discussion, lawmaker Thach Phuoc Binh suggested additional support measures, including a fund for media innovation and digital training for journalists. He emphasized that these measures, alongside the tax relief, could help media outlets reinvest in technology and improve their competitiveness.
