More tax, fee cuts to benefit pandemic-hit enterprises, people

Pandemic-hit businesses are expected to continue benefit from more support measures (Photo: VNA)

Hanoi (VNA) –About 118 trillion VND (5.16 billion USD) worth of taxes, land rent, fees, andcharges are expected to be reduced or have payment deadlines extended in 2021to assist enterprises and people affected by the coronavirus pandemic.

This is part of a draftresolution on some support measures for pandemic-hit enterprises and people discussedby the National Assembly (NA) Standing Committee on September 16.

Delivering a brief report onthe draft, Minister of Finance Ho Duc Phoc said facing negative impacts of theCOVID-19 pandemic on Vietnam’s economy and society, the Government has carriedout many timely support measures. The sum of taxes and budget contributionsthat were exempted, reduced, or had payment deadlines extended in 2020 stood ataround 129 trillion VND.

Given numerous challengesfacing businesses and people this year, including the complex COVID-19situation, the Government has proposed the NA Standing Committee issue andlaunched by itself some solutions to continue assisting the targeted groups toweather difficulties and boost production and business.

The sitting of the NA Standing Committee on September 16 (Photo: VNA)

In particular, the Cabinetplans to extend deadlines for paying taxes (added value tax, corporate incometax, personal income tax) and land rent for the pandemic-hit groups this year.It will continue slashing the environmental protection tax on aviation fuel,further cutting down import tariffs on many groups of commodities to removedifficulties and enhance enterprises’ competitiveness, and reducing 30 types offees and charges to fuel production and business and guarantee social security.

These measures are set to beimplemented in 2021, helping enterprises and people benefit from about 118trillion VND worth of taxes, land rent, fees, and charges. That includes 115trillion VND of taxes and land rent, and another 3 trillion VND of fees andcharges, Phoc noted.

Besides, other supportmeasures funded by the State budget have also been carried out at the totalcost of over 26 trillion VND under the Government’s Resolution No 68/NQ-CP onsome policies aiding pandemic-hit workers and employers.

Speaking at the meeting, NAChairman Vuong Dinh Hue asked the Ministry of Finance to clarify beneficiarygroups and consider preferential credit policies for some sectors that havebeen greatly affected but yet to be included in the priority list such asaviation, freight and passenger transport by roads, travel companies, hotels,and services.

NA Vice Chairman Nguyen DucHai said the NA Standing Committee agreed on the four groups of policiesproposed by the Government. He asked the Finance Ministry to consider opinionsat the meeting to complete the draft resolution./.

VNA