Hanoi (VNA) – A draft law amending and supplementing several articles of the laws on personal income tax, value-added tax, corporate income tax, and special consumption tax was discussed at the morning session of the National Assembly (NA) Standing Committee on April 20.
Presenting the Government’s proposal, Minister of Finance Ngo Van Tuan said the draft law proposes not to stipulate specific revenue thresholds for exemption from personal income tax or value-added tax for household and individual businesses in the law, instead assigning the Government to set these thresholds.
The move aims to support household and individual businesses and enterprises, particularly small-scale entities, in expanding operations, ensure fairness in tax policies, and encourage households and individuals to form enterprises.
The draft law also revises provisions of the Corporate Income Tax Law by introducing a revenue threshold eligible for corporate income tax exemption, with the Government authorised to define this threshold and provide detailed guidance in line with its assigned competence.
According to the minister, delegating such authority would create a legal basis for more flexible fiscal policy management, including taxation, while institutionalising key Party guidelines and aligning with existing legal frameworks.
Regarding special consumption tax on battery electric vehicles, the draft proposes extending the current preferential tax policy for vehicles with fewer than 24 seats until the end of 2030. The measure aims to ensure consistency with environmental protection goals, sustainable development, reduced urban pollution, and lower dependence on fossil fuels amid volatile global prices and supply.
A verification report by the National Assembly’s Commitee for Economic and Financial Affairs showed that most members supported introducing corporate income tax exemptions for small-sized enterprises.
The majority of them also backed extending the current special consumption tax rates for battery-powered vehicles with fewer than 24 seats, viewing it as necessary to advance green transition, environmental protection, and sustainable development.
The NA Standing Committee agreed on the need to review and amend several articles of the above-said laws to institutionalise Party policies on green and energy transitions, private sector development, and the goal of achieving double-digit economic growth alongside macroeconomic stability.
To ensure the quality of the draft law and broad consensus before submission to the legislature, NA Vice Chairwoman Nguyen Thi Hong urged the Government to further clarify and justify the delegation of authority over adjustable policy elements, including revenue thresholds for tax exemptions. She stressed that these issues are of strong public interest and require thorough explanation./.
