Hanoi (VNA) – Deputy Prime Minister Le Minh Khai has approved reforms to the tax system.
The strategy aligns Vietnam’s tax policy with international practices to meet resource requirements and realise the 10-year socio-economic development strategy to 2030.
It will help stabilise State budget collections from taxes and costs in association with socio-economic development strategies for 2021-25 and 2026-30.
In the initial phase, support will be offered to help businesses and people resume operations after the negative impacts of COVID-19.
Taxpayer satisfaction with tax agencies is hoped to reach at least 90 percent by 2025, and support for people paying taxes electronically to top 70 percent.
At a tax agency (Photo: VNA) The strategy also looks to fine-tune regulations related to value-added taxes on exports and services, and amend those on tax exemptions and refunds in a simple, transparent and concerted manner with related laws.
It will build a roadmap on adjusting taxes on tobacco and alcoholic beverages and review consumption taxes on products in line with socio-economic conditions for the 2021-30 period.
The strategy will strive to reduce import tariffs to about 25 percent by 2025 and 20 percent by 2030, from the current 32 percent and devise tax incentives for small- and medium-sized enterprises (SMEs).
Furthermore, it will increase taxes on land and houses and impose taxes on sectors that harm the environment./.
