Mr. Truong Ba Tuan - Deputy Director of the Department of Tax, Fee and Charge Policy ( Ministry of Finance ) - Photo: VGP/Nhat Bac
Synchronously amend tax laws to ensure revenue generation and sustainable development
Talking to the Government E-newspaper about the implementation of the requirements in Resolution 68-NQ/TW on reviewing and perfecting tax policies, Mr. Truong Ba Tuan - Deputy Director of the Department of Tax, Fee and Charge Policy (Ministry of Finance) said: The reform work is being widely implemented, closely following the 10-year Socio -Economic Development Strategy (2021-2030), the 5-year Development Plan (2021-2025) and especially the Tax System Reform Strategy to 2030.
Implementing the policies and orientations of the Party and the State and the economic strategies that have been issued, the Ministry of Finance has recently proactively researched, reviewed and comprehensively assessed all tax laws in the tax legal system of Vietnam. The objective of the review is to ensure consistency and comprehensiveness, in accordance with the spirit of the Tax System Reform Strategy to 2030 and the requirements of socio-economic development in the coming period.
To date, the Ministry of Finance has submitted or had a series of important tax laws approved by the National Assembly . Specifically, including: Law on Value Added Tax (approved in November 2024); Law on Special Consumption Tax and Law on Corporate Income Tax (submitted and expected to be approved in May 2025); Amendments and supplements to the Law on Export Tax and Import Tax within the framework of multi-sector laws (expected to be approved in May 2025); Law on Personal Income Tax (submitted to the National Assembly's 2025 law-making program).
Through this, the Ministry of Finance clearly affirms the direction of building a modern and effective tax policy, contributing to the reasonable mobilization of resources, ensuring correct and sufficient collection for the state budget, while actively supporting social security, poverty reduction and private sector development.
Notably, tax policy reform has been implemented synchronously in many aspects. First of all, the tax base has been expanded in a reasonable manner. The Ministry of Finance has reviewed taxable and non-taxable income, goods and services. At the same time, the subjects subject to special consumption tax, such as soft drinks with sugar exceeding the threshold, have been expanded, as well as the group of goods subject to the preferential VAT rate of 5% has been narrowed.
"A key requirement is to ensure the principle of fair treatment, without discrimination between economic sectors, including foreign-invested enterprises and domestic enterprises. Tax policies will be adjusted to promote the private economy to become an important driving force of the economy," said Mr. Truong Ba Tuan.
Along with that, the representative of the Ministry of Finance said: Support for small and micro enterprises is focused on reducing the corporate income tax rate to 15-17% (instead of the current 20%). In addition, there is a tax exemption policy for certain income sources such as: green bond transfers, first-time emission credits, income from providing basic and essential public services, etc. These measures both promote innovation and digital transformation, and support green and sustainable development.
Not only that, tax policy also aims to adjust income reasonably, contributing to ensuring social equity. The Ministry of Finance also focuses on reviewing existing tax incentives, ensuring they are appropriate, superior but not abused. On the one hand, it is to encourage investment and create jobs; on the other hand, it is to control the consumption of products that are harmful to health and the environment.
"The requirement to reform administrative procedures and create favorable conditions for taxpayers is identified as the focus of this process. Thereby, the tax system will both ensure effective collection and support economic development," Mr. Truong Ba Tuan emphasized.
Implementing Resolution 68 and shaping tax reform thinking until 2030
On May 4, 2025, the Politburo issued Resolution No. 68-NQ/TW on private economic development, emphasizing the need to improve tax policies. Immediately after that, the Ministry of Finance proactively developed and submitted to the Government for submission to the National Assembly for approval Resolution 198/2025/QH15 - a breakthrough with many specific mechanisms and policies.
Notably, Mr. Truong Ba Tuan said: Some new tax policies are proposed for the first time to be applied in Vietnam. This clearly demonstrates innovation in approach, aiming to create an effective legal corridor, encouraging private enterprises to develop more strongly.
Not stopping at amending individual taxes, the Ministry of Finance is aiming to build a tax system that covers all revenue sources. The focus is on increasing the proportion of domestic revenue, balancing indirect and direct taxes, and promoting the effectiveness of property, natural resources and environmental taxes. On the other hand, tax policy must ensure neutrality, limiting the integration of social policies into taxes to avoid market distortion.
In the roadmap from now until 2030, the financial sector has determined to continue reviewing the entire tax law system, eliminating shortcomings and obstacles, and updating new trends such as digital economy, sharing economy, financial technology, etc. Thus, tax reform not only closely follows reality but also anticipates trends, maintaining national taxing rights in accordance with international practices.
At the same time, the Ministry of Finance is persistently pursuing the goal of building a modern, effective, stable and predictable tax policy system. This mechanism will create peace of mind for investors, businesses and people, contributing to shaping a healthy and transparent business environment.
"Tax policy will not only be a tool to collect state budget revenue but also an important lever for economic development, supporting growth model transformation, creating momentum for science and technology, promoting innovation and deep international integration," Mr. Truong Ba Tuan emphasized.
Huy Thang
Source: https://baochinhphu.vn/cai-cach-thue-bao-dam-cong-bang-va-hieu-qua-de-kinh-te-tu-nhan-phat-trien-102250531114215145.htm
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