Ministry proposes cutting taxes for transport firms
| |
Coaches at Giap Bat Bus Station in Hanoi (Photo: VNA) |
For the civil aviation industry, the ministry has suggested the Government to exempt import and environmental protection taxes on flight fuel from January 23 to December 31, 2020.
In case of difficulties balancing the budget, the ministry expected the Government to cut half of these taxes and allow businesses to delay tax payments and budget contributions.
The ministry also asked for reduced or suspended payments for corporate income, personal income and foreign contractor taxes from January 23 to December 31, 2020. Businesses are expected to enjoy cuts to value-added tax on domestic transport over three years.
Last month, the ministry said the aviation sector would be heavily impacted by the COVID-19 pandemic, causing an estimated loss of about VND30 trillion (US$1.29 million).
National flag carrier Vietnam Airlines, which holds nearly 40% of the domestic market share, recently said that it would reduce its supply by 60%, causing a decrease of VND50 trillion in revenue, or 65% of its target.
More than 50% of Vietnam Airlines employees had stopped working, while wages had been reduced.
In the maritime sector, the ministry said the number of vessels transporting goods entering and leaving ports had decreased by 15% in recent months. As for passenger ships from other countries to Vietnam, the number had fallen 30% year-on-year, and was expected to fall further this month.
Meanwhile, the volume of inland waterway and freight had fallen by 10%. Revenue from road logistics had fallen sharply by 40-80% compared to the same period last year and prior to the outbreak.
Related News
Freight transport estimated at around 191 million tonnes in February
15:33 | 03/03/2023 Import-Export
Demand falls, shipping lines face many challenges
11:00 | 25/02/2023 Import-Export
News routes for transport of contraband cigarettes
14:12 | 17/02/2023 Anti-Smuggling
Chi Ma Customs prevents contraband goods at the border
09:03 | 30/11/2022 Anti-Smuggling
Latest News
Enterprises have the right to pre-determine HS codes
09:55 | 06/04/2023 Regulations
Amendment to Decree 14 to prevent goods congestion at border gates
11:39 | 01/04/2023 Regulations
Notes for businesses on tax policy
13:44 | 31/03/2023 Regulations
Revising Law on Corporate Income Tax: Promoting resources for socio-economic development
13:43 | 27/03/2023 Regulations
More News
Apply 609 preferential export tax lines, 11,526 special preferential import tax lines to implement the CPTPP Agreement
09:33 | 26/03/2023 Regulations
Difficulties in determining samples for testing
09:32 | 26/03/2023 Regulations
GDVC instructs application of C/O form D
10:16 | 25/03/2023 Regulations
Goods imported from export processing enterprises must pay tax
09:03 | 24/03/2023 Regulations
Review, perfect regulations on decentralization of public property management
11:55 | 22/03/2023 Regulations
MoF develops excise tax policy to promote electric vehicle production
17:21 | 13/03/2023 Regulations
Enterprises must submit dossiers and documents to identify authenticity of goods' value
10:09 | 13/03/2023 Regulations
Removing difficulties in the implementation of VAT policy
15:10 | 27/02/2023 Regulations
Correcting policy to avoid overlaps in inspection and supervision at land border gates
14:13 | 26/02/2023 Regulations
Your care
The system has not recorded your reading habits.
Please Login/Register so that the system can provide articles according to your reading needs.
Enterprises have the right to pre-determine HS codes
09:55 | 06/04/2023 Regulations
Amendment to Decree 14 to prevent goods congestion at border gates
11:39 | 01/04/2023 Regulations
Notes for businesses on tax policy
13:44 | 31/03/2023 Regulations
Revising Law on Corporate Income Tax: Promoting resources for socio-economic development
13:43 | 27/03/2023 Regulations
Apply 609 preferential export tax lines, 11,526 special preferential import tax lines to implement the CPTPP Agreement
09:33 | 26/03/2023 Regulations