Deputy Prime Minister: Focusing on integrating AI into tax administration.

Deputy Prime Minister Ho Duc Phoc stated that the integration of AI and technology into tax management has made the process easier and more satisfying for taxpayers.

The integration of AI and technology into tax administration has made the process easier and more satisfying for taxpayers. (Photo: Thach Lam)

On November 28th, continuing the 8th session, the National Assembly discussed the draft Law on Corporate Income Tax (amended) in the plenary hall. In his explanation and response to the delegates' opinions, Deputy Prime Minister and Minister of Finance Ho Duc Phoc stated that the drafting of the amended Law on Corporate Income Tax must ensure accuracy, appropriateness, fairness, and promote development. The Deputy Prime Minister affirmed that taxes remain the main source of state budget revenue, which is currently experiencing a relatively large budget deficit. Meanwhile, in the coming period, key infrastructure projects will be built, leading to an increase in budget deficits and public debt. According to the Deputy Prime Minister, the current global trend is to tighten fiscal policy, meaning increasing tax rates to ensure the strength of public finance. However, given that Vietnam has just gone through a pandemic, tax reductions are still being implemented to create favorable conditions for businesses to develop. Compared to many countries in the region, Vietnam's corporate income tax is also lower. Regarding the principle of corporate income tax, the Deputy Prime Minister affirmed that all income of businesses is taxable income.

Deputy Prime Minister and Minister of Finance Ho Duc Phoc explains and clarifies some issues raised by National Assembly deputies. Photo: Quochoi.vn

Foreign businesses without a permanent address in Vietnam but generating income from activities in Vietnam are also required to pay corporate income tax. “In the past, we have collected taxes from e-commerce platforms and online sales…” – Deputy Prime Minister Ho Duc Phoc stated. Regarding digital platforms, the Deputy Prime Minister noted that the finance sector has long been at the forefront of applying information technology to serve its operations, from customs and tax matters to treasury operations. “Currently, we are focusing on integrating AI and information technology into management. Last week, we launched a virtual robot to assist taxpayers. Taxpayers can ask any question and receive an answer,” the Deputy Prime Minister said. He gave examples of users asking about revenue and expenses, how much tax they can get refunded, how much tax they have to pay, and the period for late payment… Or, for example, how much tax an individual earning 200 million VND per year has to pay. All questions have been answered.

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Source: https://laodong.vn/thoi-su/pho-thu-tuong-dang-tap-trung-dua-ai-vao-quan-ly-thue-1427621.ldo