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Source: Socialist Republic of Vietnam

The information was released at a Taxation Forum 2020 entitled “Tax policies support and accompany enterprises to overcome challenges facing development” held by the Vietnam Financial Times and the Ministry of Finance in Hanoi on December 18.

Le Minh Khiem from the Department of Tax Policy under the Ministry of Finance said that amid the impacts of the COVID-19 pandemic, many solutions have been devised to ease difficulties and support both enterprises and people including the extension of tax payment and land rental deadline, reduction of corporate income tax in 2020, exemptions in agricultural land use taxes until the end of 2025, the reduction of environmental protection tax on aviation fuel, and others.

The ministry has added 194 online public services on the portals of the General Department of Taxation and Taxation Departments in provinces across the country to facilitate taxpayers.

Approximately VND112 trillion of tax and fees is estimated will have been extended, exempted or reducedby the end of 2020, according to estimates.

“In the coming time, in order to support businesses and people to overcome difficulties and promote business and production development, the Ministry of Finance will continue to closely monitor the actual situation to study the building and implementation of support solutions,”Khiem said.

Deputy Director of the Import-Export Tax Department under the General Department of Vietnamese Customs Le Manh Hung said that amid the complicated developmentsof the COVID-19 epidemic in 2020, the customs sector has implemented a number of solutions to support import and export businesses, thereby facilitating trade and improving the effectiveness of state customs management as well as ensuring budget revenue.

MIL OSI Asia Pacific News