Viet Nam will offer a discount on value-added tax, remove export tariffs for rice, fertilizer and copper ore and extend deadlines for tax payments this year to help companies cope with the economic slowdown.

The South-east Asian nation will give a 50% tax reduction on cars, ships, coal, chemicals, tires, engineering equipment, some cement structures, automatic data-processing machines and precious stones, the government said a statement on its Web site late yesterday.

The government said it’s trying to ease the tax burden on businesses by bolstering production and exports as the global economic crisis deepens. Vietnam’s economy expanded 6.2% last year, the lowest in nine years after growing 8.5% in 2007. The government is targeting 6.5 percent growth this year.

Hotels, travel services and printing business will also be eligible to get the tax discount. Firms making engineering equipment and construction materials, as well as building companies, travel agents, food and fertilizer traders will be given nine months to pay taxes, the statement said. (Bloomberg)