Since it is a common difficulty, VAT should be reduced for all sectors.

According to the audit report of the Finance and Budget Committee, some delegates suggested considering expanding the scope of subjects eligible for VAT reduction to all groups of goods currently subject to a 10% tax rate because all production and business sectors are currently facing difficulties. Some also suggested considering raising the VAT reduction rate to 4% to "lend back" people's strength and nurture revenue sources.

Nên giảm thuế VAT cho mọi lĩnh vực để chính sách không bị giật cục - Ảnh 1. — The Finance and Budget Committee examines the continued implementation of the 2% value-added tax reduction policy according to Resolution 43/2022/QH15

Standing Committee member Le Thanh Van said that tax reduction leading to product price reduction will increase sales, so although VAT revenue will decrease, revenue from corporate income tax, import and export tax, personal income tax, fees and charges... can increase. Along with that, inspection and supervision to prevent tax losses will be strengthened. These items will ensure budget balance.

According to Prof. Dr. Tran Hoang Ngan, National Assembly delegate of Ho Chi Minh City, in the context of economic difficulties and declining growth, we need an expansionary fiscal policy. Industries and fields are all connected. Therefore, choosing something that is easy to manage and easy to do will be effective. It is necessary to reduce VAT for the masses, not just in certain areas, and it is even possible to reduce this tax more deeply.

Mr. Ngan analyzed that over the past three years, businesses have faced consecutive difficulties. Now, policies need to be calm to "fundamentally" address the challenges and solve the problem comprehensively. Therefore, "it cannot be solved by firefighting, because one fire will spread to another," Mr. Ngan likened.

Agreeing, National Assembly Delegate Trinh Xuan An - National Assembly Delegation of Dong Nai province acknowledged that reducing VAT will create motivation and boost for people's consumption. "If it can be reduced, then any item that is 10% will be reduced to 8%, without distinction or exclusion of certain items. This will create consistency and comprehensiveness in fiscal policy."

Nên giảm thuế VAT cho mọi lĩnh vực để chính sách không bị giật cục - Ảnh 2. — Delegate Vu Tien Loc, Chairman of the Vietnam Arbitration Center, emphasized that synchronous tax reduction will remove economic bottlenecks.

Delegate Vu Tien Loc, Chairman of the Vietnam Arbitration Center, emphasized that synchronous tax reduction will remove economic bottlenecks. In a difficult context, business types are intertwined, overlapping and interrelated, so reducing taxes on one product or sector but not another will cause difficulties for businesses. Especially now, businesses have been operating in multiple industries, buying and selling, and having debts on many products, and businesses belong to many different types.

"It is necessary to reduce VAT by 2% on all items. Every business opportunity is valuable. During difficult times for businesses, this tax reduction will stimulate demand and solve market difficulties - the biggest bottleneck for businesses at the moment," Mr. Loc emphasized.

Nên giảm thuế VAT cho mọi lĩnh vực để chính sách không bị giật cục - Ảnh 3. — Secretary General of the National Assembly and Head of the National Assembly Office Bui Van Cuong said that areas should not be excluded when reducing VAT.

Also stating that areas should not be excluded when reducing VAT, Secretary General of the National Assembly, Head of the National Assembly Office Bui Van Cuong proposed to expand the support objects in the direction of reducing 2% for goods and services with a VAT rate of 10%, not excluding some goods and services such as: telecommunications, information technology, financial activities, banking, securities, insurance, real estate business, metals, prefabricated metal products, mineral products, excluding coal mining (grade coal, refined petroleum), chemical products and goods and products subject to special consumption tax. These are also difficult areas, need to stimulate consumption, so they should not be excluded.

Mr. Truong Xuan Cu, National Assembly Delegation of Hanoi analyzed: "Difficulties are common difficulties. If we analyze them, there are industries with more difficulties and industries with less difficulties. However, the vast majority are difficult, so expanding the types of industries and fields to reduce taxes by 2% is necessary to demonstrate that our policies are fair."

According to tax experts, the VAT reduction of 2% across the board will create more advantages than the VAT reduction policy only select, zone for some industries that applied in 2022. At that time, Reducing taxes on only a few items makes it very complicated for businesses to declare and pay taxes. Businesses, tax authorities, and customs are worried that if they incorrectly identify the reduced items, they will risk being punished and disciplined later.

Besides, The economy is a interconnected entity, the sectors that are reduced and those that are not will cause difficulties for economic activities, creating discrimination against the common difficulties of businesses. Job Restrictions only allow a 2% VAT reduction for certain industries and sectors. replacement area for all also can make policy economy jerky