According to recent reports, the Vietnam Ministry of Finance is currently finalizing a draft proposal to provide reduced corporate tax rates for small and medium-sized enterprises (SMEs). The proposal is expected to include two reduced rates of 15% and 17% that will apply from 1 January 2016 through 2020 (current standard rate is 20%). In addition, a four-year exemption followed by a reduced 10% rate for 15 years will be introduced for startups developing projects in disadvantaged, rural and remote areas.