100% of Standing Committee of the National Assembly votes for issuing Resolution on tax exemption and reduction

	Tax exemption and reduction policies are necessary for businesses at this time
	Prevent tax fraud from declaring low value goods
	The Ministry of Finance collecting opinions to ensure the promulgation of resolution on tax support in time

Overview of the meeting. Photo: Quochoi.vn

At the meeting, Minister of Finance Ho Duc Phuoc presented a proposal on issuing a Resolution on solutions to support businesses and people hit by the Covid-19 pandemic.

Of which, four solution groups of tax exemption and reduction will provide VND21.3 trillion.

The minister said facing the extremely complicated developments of the Covid-19 pandemic, which has been seriously affecting operations of businesses and people, the Government believes that it is necessary to offer more solutions to support businesses and people to cope with the impact of the pandemic in 2021.

The Standing Committee on Finance and Budget has approved the proposal on introducing solutions on tax exemption and reduction to support businesses and people affected by the Covid-19 pandemic and concretize solutions to cope in the spirit of Resolution 30/2021/QH15 dated July 28, 2021 of the National Assembly.

All members of the Standing Committee of the National Assembly said that the "endurance" of businesses has actually decreased sharply since the first wave of the pandemic from early 2020, especially the fourth wave of Covid-19 in April, 2021.

Therefore, solutions on tax exemption and reduction to help those hit by the Covid-19 pandemic is a must.

Chairman of the National Assembly's Law Committee Hoang Thanh Tung said, the National Assembly Standing Committee should consider and decide to issue this policy soon.

For the proposal on further applying the 30% reduction of corporate income tax payable in 2021 as applied in 2020, the Standing Committee on Finance and Budget agreed with the Government's content because the addition of this condition contributes to the exclusion of businesses that have advantages in the context of the pandemic and complies with Resolution 30/2021/QH15.

At the same time, this is also a continuation of the policy issued by the National Assembly in Resolution 116/2020/QH14 to support small and medium-sized businesses that are facing difficulties amid the pandemic.

Members of the National Assembly Standing Committee said that it is necessary to continue to remove difficulties, promote production and business development, and recover the economy, especially in industries and fields that suffer adverse impacts of the pandemic.

However, it is suggested that the Government should use the tax sector's management database, review and clearly define the scope of subjects and industries in accordance with the actual situation to serve as a basis for building a policy framework in accordance with the policy objectives.

As for the policy of value-added tax reduction, the Chairman of the Finance and Budget Committee said that most members of the Standing Committee agreed on cutting value-added tax for some business areas, especially transportation services, warehousing to stimulate consumption and reduce input costs for many other business areas during the pandemic.

The Chairman of the National Assembly Vuong Dinh Hue noted that the Ministry of Finance needs to clarify the beneficiaries. Because resources are limited, it is necessary to ensure that the support is given to the right beneficiaries.

The National Assembly Standing Committee appreciates the Government in offering solutions to remove difficulties for people and businesses in the spirit of Resolution 30/2021/QH15, acknowledges the verification responsibility of the Standing Committee on Finance and Budget, said the Vice Chairman of the National Assembly Nguyen Duc Hai.

Nguye Duc Hai also said the National Assembly Standing Committee agrees on issuing a Resolution to help people, workers and businesses overcome difficulties caused by the pandemic and approves policy groups according to the Government's proposal; and requests the Ministry of Finance to note discussions to perfect the above contents.

Based on issues mentioned in the Government's proposal and the verification report of the Standing Committee on Finance and Budget, 100% of the members of the Standing Committee of the National Assembly voted for issuing Resolution on solutions on tax reduction and exemption to aid those affected by Covid-19.

The Vice Chairman of the National Assembly requires the Standing Committee on Finance and Budget to chair and work with the Law Committee and the Ministry of Finance to realize the opinions of the Standing Committee of the National Assembly to promptly complete the Resolution and submit it to the Chairman of the National Assembly for promulgation before October 1, 2021.