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Plenty of tax exemption and reduction policies proposals

Implementing Resolution No. 43/2022/QH15 of the National Assembly and Resolution No. 11/NQ-CP of the Government on the Socio-economic Development and Recovery Program, the Ministry of Finance immediately issued documents assigning tasks to units in the ministry to organize the implementation of 18 assigned fiscal tasks and solutions and 13 tasks to coordinate with other ministries and agencies, associated with specific completion deadlines.

In the first two months of the year, the Ministry of Finance actively and urgently researched, developed and submitted to the authorities a series of important policies to support people and businesses, specifically: Decree No. 15/2022/ND-CP dated January 28, 2022 (effective from February 1, 2022), stipulating tax exemption and reduction policies according to Resolution No. 43/2022/QH15 to create favorable conditions for businesses and people to get benefits from tax exemption and reduction policies early, facilitate the issuance of invoices and tax declaration and payment, and uniform implementation nationwide.

Along with that is the Decree No. 10/2022/ND-CP dated January 15, 2022 regulating registration fees (effective from March 1, 2022), supplementing the pro-rata registration fee rate (%) applied to battery-powered electric cars (within 3 years from March 1, 2022, the first registration fee will be 0%; within the next 2 years, the fee will be charged at 0%) The first registration is equal to 50% of the fee for petrol and diesel cars with the same number of seats).

Regarding reporting to the authorities the plan to increase the excise tax for a number of items that need to be restricted in consumption in order to promptly apply during the implementation of the program, from the beginning of January 2022, the Ministry of Finance Finance has sent a document to ministries, central and local agencies, requesting to review, evaluate and propose amendments to the above tax law.

On the basis of summarizing opinions and suggestions of ministries, central and local agencies, the Ministry of Finance will complete the review report of the Excise Tax Law and submit it to the Government before March 31, 2022 in accordance with progress.

As for regulations on land rent reduction and extension of time for paying taxes and land rents, the Ministry of Finance is studying, summarizing and evaluating the implementation of Decree No. 52/2021/ND-CP and Decree No. 104/2020/ND-CP (expected to be submitted in the second quarter of 2022) to propose appropriate solutions.

Ensuring resources to implement the Program

Along with the implementation of fiscal solutions to implement the program, there are many tasks that the Ministry of Finance has been and will continue to coordinate with relevant ministries and branches to implement.

Regarding the annual loan and repayment plan, based on the draft resolution on the government guarantee limit in 2022, the Ministry of Finance has also drafted a loan and repayment plan in 2022 to submit to the Prime Minister for approval immediately after the Government issues a resolution on the government guarantee limit.

Regarding the review, development of the list and the amount of capital expected to be allocated under the Program for each task and project in the two years 2022 - 2023 and each year 2022 and 2023 under its management, the Ministry of Finance has a document sent to the Ministry of Planning and Investment on reviewing and synthesizing a list of 10 digital transformation and information technology projects with a capital need of VND 2,063 billion, in which details the capital allocation plan for each project and in each year 2022, 2023.

For students loans to buy computers for online learning due to the impact of the Covid-19 pandemic; to remove difficulties and obstacles in using the enterprise's Science and Technology Development Fund, the Ministry of Finance is actively coordinating with ministries and sectors and implementing it on schedule.

Regarding resources to implement the program, currently, the Ministry of Finance is reviewing the increase in revenue and savings of the central budget in 2021 to develop a plan to use this source. In which, spending money reform according to Resolution No. 27-TW/NQ of the 7th Plenum of the 12th Central Committee, some expenditures according to the provisions of the Law on State Budget and about 6.6 trillion dong. VND to support rent for employees with labor relations according to Resolution 11/NQ-CP..., reported to the Government in March 2022.

On the basis of reviewing the sources of revenue increase and savings in the central budget in 2021; the proposal of the Ministry of Planning and Investment on the addition of investment expenditure estimates for the program in 2022, including credit duties; update on the impact of the program on the ability to collect the state budget in 2022, the Ministry of Finance will determine the need for resources for the program in 2022 according to regulations and submit it to the Government according to the proposed plan.