On 26 November 2014, Vietnam's National Assembly passed two laws amending the country's tax laws. The main measures include: The 15% cap for deducting advertising and promotion expenses will be abolished Tax incentives for certain manufacturing investment projects will be introduced, with the choice of either a 10% reduced income tax rate for 15 years, or tax exemption for 4 years followed by a 50% reduction in tax for 9 years When profits are repatriated to Vietnam by a Vietnamese enterprise, the provisions of any applicable tax treaty will apply, but if there is no treaty in place and the...