Tax and rent breaks mulled for Vietnam's clothing sector

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Tax and rent breaks mulled for Vietnam’s clothing sector

YarnsandFibers News Bureau 2020-04-13 10:56:32 – Vietnam

Vietnam’s Ministry of Industry and Trade has named footwear and textiles among sectors that have suffered the most due to the coronavirus pandemic.

Alongside garment making and leather, falling demand from the US and Europe means orders are down 70% for April and May, according to reports in local press.

The ministry has recommended the government allow extensions of payment deadlines for income tax, VAT, land rental fees and wastewater treatment fees to help struggling businesses.

It added that maintaining manufacturing was a priority.

Source: Sports Textiles

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