On the afternoon of June 1, continuing the program of the 6th session, the National Assembly discussed the plenary session in the hall on continuing to implement the 5% value-added tax (VAT) reduction policy under Resolution No. 2/43. /QH2022 dated 15/11/1.
The report explains and clarifies that some National Assembly deputies proposed to extend the 2% VAT reduction until the end of 2025 or at least 2024, Finance Minister Ho Duc Phuc said, the proposed reduction plan 6 month has been verified by the Finance and Budget Committee and consulted by the National Assembly Standing Committee before submitting it to the National Assembly at this session.
“Resolution 43 is only valid until the end of this year, which is another 6 months. The proposed plan is also consistent with the budget balance and policy goals to stimulate consumption demand and solve difficulties immediately, that is, in the current period", the Finance Minister explained and affirmed the proposal. VAT reduction until the end of 2023 is appropriate.
Finance Minister Ho Duc Phuc.
Regarding the proposal to bring cars into the category of 2% VAT reduction, Mr. Ho Duc Phuc stated that cars are items subject to excise tax, which is not within the scope of Resolution 43. Cars are not included in the list. The benefit of tax reduction is because this policy focuses on reducing taxes for essential areas and goods.
The Finance Minister emphasized that the problem is to do everything to create conditions for businesses, strengthen the capacity of enterprises, and increase the capacity of the economy.
“Creating conditions for enterprises to produce and do business effectively by removing obstacles, removing difficulties and creating a better market will have a greater effect than tax reduction. If taxes are reduced, but if there are no problems, businesses will continue to face difficulties," said Ho Duc Phuc.
The head of the Ministry of Finance informed that the Ministry had also submitted to the Government to reduce the registration fee by 50% for domestically manufactured and assembled cars and the Government agreed with this recommendation.
Previously, giving comments on continuing to implement the 2% VAT reduction policy, delegate Mai Thi Phuong Hoa (Delegation of National Assembly Delegation of Nam Dinh province) said that many Vietnamese businesses are facing difficulties in many situations. common challenges of the economy.
Delegate Mai Thi Phuong Hoa (Delegation of National Assembly Delegation of Nam Dinh province).
Reflecting the situation that many large enterprises had to sell their assets, the buyer being a foreigner, delegates said that this situation is very worrisome, especially when businesses need to keep and support to develop the economy. economic.
According to Ms. Mai Thi Phuong Hoa, it is necessary to have policies to nurture and support domestic enterprises, especially in difficult times.
Appreciating the implementation of tax solutions in the past time, delegate Mai Thi Phuong Hoa said that the flexible implementation of tax policies has contributed to reducing the cost of goods and services, promoting production and business. , stimulate consumption demand, generate revenue for the State budget.
Expressing agreement on continuing to implement the policy of reducing value-added tax of 2% according to Resolution No. 43/2022/QH15, however, a member of the National Assembly of Nam Dinh province said that the Government's plan lasts until December 31, 12 is too short.
“Difficulties and challenges in the coming time are quite big. In order for this support to be more effective, enough time for the policy to come into play in practice, it is necessary to extend the policy of reducing 2% value-added tax until the end of 2025 or at least until 2024. Phuong Hoa suggested.
At the same time, the delegate said that it is necessary to promptly guide the application for a value-added tax refund quickly and effectively for people and businesses. In addition, it is necessary to study policies that exceed precedents such as requiring loan interest rates to be reduced to below 9%, changing lending conditions to be open, feasible and reasonable to support the business community.
Also speaking at the discussion session, delegate Nguyen Thi Viet Nga (Delegation of Delegation to the National Assembly of Hai Duong province) proposed to review and consider expanding the scope of objects eligible for value-added tax reduction.
Emphasizing the importance of the domestic automobile manufacturing industry when it can promote the development of many other industries, Ms. Nguyen Thi Viet Nga proposed to consider expanding the scope of objects eligible for value-added tax reduction, apply the tax rate of 8% VAT (2% reduction) for automobiles, including cars with less than 24 seats.
Delegate Nguyen Thi Viet Nga (Delegation to the National Assembly of Hai Duong province).
According to the reflection, businesses in the automotive sector are facing a large inventory situation, incurring many costs, and declining revenue, causing difficulties for cash flow. The application of the VAT rate of 8%, although it causes a budget deficit compared to the current regulations, but cars are a highly taxable commodity, along with a variety of fees (VAT tax, import tax, excise tax). , registration fee, sea level fee, etc.).
According to Ms. Nguyen Thi Viet Nga, if the demand is stimulated, the money collected from other taxes and fees charged on a car will exceed the 2% tax reduction. This contributes to the increase of budget revenue as well as the development of the automobile industry. In particular, it will stimulate market demand to solve the current difficulties that businesses are facing.
“According to calculations with a mid-range car sold, if the VAT is reduced by 2%, the State will reduce tax collection by 10-15 million VND. But businesses contribute to the State budget 200-300 million dong from taxes and fees, "said Nguyen Thi Viet Nga.
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Resolution No. 43/2022/QH15 stipulates: Reducing the value-added tax rate by 2% in 2022, applicable to groups of goods and services currently applying the 10% value-added tax rate ( remaining 8%), except for some of the following groups of goods and services: telecommunications, information technology, financial activities, banking, securities, insurance, real estate business, metals, and products from prefabricated metals, mining products (excluding coal mining), coke, refined petroleum, chemical products, goods and services subject to excise tax.
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