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Finance ministry suggests policies in support of pandemic-hit sectors

The Ministry of Finance has submitted proposals to authorities regarding the issuance of taxation and land lease policies to tackle difficulties and promote production and trade amid the COVID-19 pandemic.
Finance ministry suggests policies in support of pandemic-hit sectors ảnh 1Illustrative image (Photo: VNA)

Hanoi (VNA) - The Ministry of Finance hassubmitted proposals to authorities regarding the issuance of taxation and landlease policies to tackle difficulties and promote production and trade amid theCOVID-19 pandemic.

Specifically, the ministry proposed the Government issue Decree No 44/2021/ND-CPdated March 31, 2021 guiding the inclusion of financial donations to COVID-19 prevention and control activities in the list not subject to corporate income taxes for2020 and 2021, with an estimated cut of nearly 170 billion VND (7.39 million USD) per year.

Meanwhile, Decree No 52/2021/ND-CP dated April 19, 2021 also allows theextension of tax and land lease payment deadlines this year for those hit bythe pandemic, with a total amount of around 115 trillion VND.

Theministry also suggested further cutting 30 types of fees and costs by 10-50percent from July 1 to the year’s end.

Accordingto the ministry, the pandemic is taking a toll on economic sectors nationwide,especially tourism, aviation, and transportation.

It willcontinue to perfect mechanisms, improve the efficiency of its apparatus, stepup administrative reform, and modernise the taxation and customs sectors, thuscreating favourable conditions for businesses to grow.

Headof the General Department of Taxation’s Department of Tax Filing and Accounting Le Thi Duyen Hai said the finance ministry has directed the taxation sector to review the impact of tax policies on production and trade as well as Statebudget collections.

The taxation sector will shortly recommend feasible tax and fee measures./.

VNA
#Ministry of Finance #Vietnamplus #Vietnam News Agency #General Department of Taxation #COVID-19 prevention and control #land lease policies Vietnam
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