Participating in answering and clarifying issues of concern to National Assembly deputies on the afternoon of June 19, Deputy Prime Minister Ho Duc Phoc spoke about tax collection policies for business households. Mr. Phoc said that Resolution 68 on private economic development requires the elimination of lump-sum tax from the beginning of 2026 and this is correct. However, the Ministry of Finance should study and consult with competent authorities to regulate this lump-sum tax according to revenue levels, in order to facilitate poor households and small businesses, ensuring social security.
For example, small businesses with a revenue of less than VND1 billion a month should apply lump-sum tax, because they do not have input invoices, and thus they cannot get a tax refund. "Applying tax policies to small-income households will ensure convenience for tax authorities and businesses, and will not cause budget losses," said the Deputy Prime Minister .
Deputy Prime Minister Ho Duc Phoc.
As for business households with revenue of over 1 billion VND and fixed business locations, according to the Deputy Prime Minister, they need to collect according to invoices to be transparent and prevent revenue loss.
Speaking more about tax policy, the Deputy Prime Minister said that Vietnam's tax rate is currently lower than the world average.
For example, VAT is currently 10%, and in the past 5 years it has been reduced by 2% for some goods and services to 8%. Meanwhile, this tax in many countries is 17-27%. Or Vietnam applies a corporate income tax rate of 20%. This type of tax in some countries in the Asian region is 20-30%, even 20-35%.
"We have had many preferential tax policies to ease people's burdens. It is important to save both investment and regular expenditures to have resources to implement key projects, digital transformation, innovation and social security," the Deputy Prime Minister concluded.
The Ministry of Finance is consulting on adjusting the family deduction level.
Minister Nguyen Van Thang said that recently, the Ministry of Finance has advised the Government to promulgate and submit to the National Assembly many policies on tax and fee exemptions and reductions, especially during the period affected by the COVID-19 pandemic.
Support policies have contributed to economic growth, overcoming difficulties and challenges, reducing business difficulties, and contributing to the Government's budget.
According to the Minister, at this 9th session, the Government will continue to submit to the National Assembly for approval a reduction in value-added tax until the end of 2026, an exemption from agricultural land use tax until 2030... with a total support amount of hundreds of thousands of billions of VND.
"These policies will continue to be effective, creating momentum for production and business and stimulating domestic consumption," said Minister Thang.
At the same time, Mr. Thang added that the Ministry of Finance is advising the Government to submit a Resolution of the National Assembly Standing Committee to adjust the family deduction level of the Personal Income Tax Law; adjust the decree to reduce land rent in 2025...
The Ministry of Finance also proactively advises the Government on policies to support people and businesses in cases of unusual fluctuations and difficulties.
Source: https://vtcnews.vn/pho-thu-tuong-nen-giu-thue-khoan-cho-ho-kinh-doanh-duoi-1-ty-dong-ar949805.html
Comment (0)