Through laws in the areas of finance, agriculture, and environment.

The state budget covers bankruptcy costs in certain cases.

Photo caption — The National Assembly votes to pass the amended Bankruptcy Law. Photo: Doan Tan/TTXVN

The National Assembly passed the Law on Business Rehabilitation and Bankruptcy with 425 votes in favor, representing 89.85% of the total number of National Assembly deputies. The law, comprising 88 articles and effective from March 1, 2026, stipulates the principles, procedures, and processes for resolving business and cooperative rehabilitation and bankruptcy cases; the duties and powers of those conducting rehabilitation and bankruptcy procedures; and the rights and obligations of those participating in rehabilitation and bankruptcy procedures.

The Law on Rehabilitation and Bankruptcy applies when resolving cases of business and cooperative rehabilitation and bankruptcy; in cases where this Law does not provide for a specific provision, the provisions of relevant laws shall apply. The provisions on rehabilitation procedures and simplified rehabilitation procedures in this Law do not apply to credit institutions, insurance companies, or reinsurance companies.

In the report on the acceptance, revision, and explanation of the draft Law, National Assembly Standing Committee member Phan Van Mai stated that the National Assembly Standing Committee accepts and revises the name of the Law to "Law on Bankruptcy and Recovery" in accordance with the majority opinion of National Assembly deputies.

Regarding the case where the state budget guarantees bankruptcy costs and advances bankruptcy costs (Article 20), practical experience in resolving bankruptcy cases at the People's Courts shows that bankruptcy costs when guaranteed by the state budget are not significant. Furthermore, the 2014 Bankruptcy Law (current law) stipulates that advance bankruptcy costs are not required (exemption) for cases where the applicant requesting bankruptcy proceedings is an employee, a trade union, or where the enterprise or cooperative no longer has assets. However, the 2014 Bankruptcy Law does not specify the funding source to guarantee advance bankruptcy costs in these exempted cases, leading to a bottleneck in resolving bankruptcy cases due to the lack of funds to cover bankruptcy costs.

Therefore, to address practical difficulties in determining the source of payment for bankruptcy costs in cases where advance payment of bankruptcy costs is not required (exemption), Clause 3 of Article 20 of the draft Law has been revised to ensure that advance payment of bankruptcy costs will be guaranteed by the state budget in cases where the applicant requesting bankruptcy proceedings is an employee, trade union, tax authority, social insurance agency, or in cases where the enterprise or cooperative no longer has assets (or has assets but cannot liquidate or recover them, or has assets but not enough to pay advance bankruptcy costs). In this case, the advance payment of bankruptcy costs will be immediately reimbursed to the state budget upon sale of the enterprise's or cooperative's assets.

Household businesses with annual revenue of 500 million VND or less are not subject to value-added tax.

The Law amending and supplementing a number of articles of the Value Added Tax Law was passed by the National Assembly with 421 votes in favor, accounting for 89.01% of the total number of National Assembly deputies.

The law consists of two articles and will take effect from January 1, 2026. The law amends and supplements Clause 1, Article 5 regarding tax-exempt items as follows: "Products of crops, planted forests, livestock, aquaculture, and fisheries that have not been processed into other products or have only undergone basic processing, produced and sold by organizations and individuals themselves, and at the import stage. Enterprises, cooperatives, and cooperative unions that purchase unprocessed crops, planted forests, livestock, aquaculture, and fisheries products that have only undergone basic processing and sell them to other enterprises, cooperatives, and cooperative unions are not required to declare or pay value-added tax, but are entitled to deduct input value-added tax."

Clause 25 of Article 5 stipulates that the following are exempt from tax: goods and services of households and individuals engaged in production and business with annual revenue of VND 500 million or less; assets sold by organizations and individuals not engaged in business and not subject to value-added tax; national reserve goods sold by the national reserve agency; and fees and charges as prescribed by law on fees and charges.

The law abolishes the regulation requiring businesses eligible for tax refunds to meet the condition that the seller has declared and paid value-added tax as prescribed for invoices issued to the business requesting the refund (Clause c, Point 9, Article 15).

Earlier, on behalf of the Prime Minister, Minister of Finance Nguyen Van Thang presented the report explaining, accepting, and revising the draft Law amending and supplementing a number of articles of the Value Added Tax Law. He stated that, after receiving feedback from delegates and review opinions, the Government has provided additional information on impact assessment, including a report on the percentage of tax refund applications under current regulations. The abolition of this regulation contributes to shortening the tax refund time for businesses, ensuring the proper responsibilities and separate rights of both the buyer and the seller. Tax refunds will be implemented uniformly according to the provisions of the Tax Administration Law recently passed by the National Assembly, ensuring efficiency and strictness.

Addressing 20 "mature" and clearly defined bottlenecks in 9 laws in the fields of agriculture and environment.

Also on the morning of December 11th, 424 National Assembly delegates pressed the button to approve the Law amending and supplementing a number of articles of 15 laws in the fields of agriculture and environment (accounting for 89.64% of the total number of National Assembly delegates).

Presenting the report explaining, receiving feedback, and revising the draft Law, Minister of Agriculture and Environment Tran Duc Thang stated that in recent times, a number of obstacles, bottlenecks, and bottlenecks have arisen that need to be addressed immediately to promptly resolve them in order to promote socio-economic development and improve the effectiveness and efficiency of agricultural and environmental management. Focusing on removing legal "bottlenecks" and "bottlenecks" arising from practice; promptly proposing solutions to emerging problems and inadequacies, especially those related to economic development, particularly aiming for an 8% growth target in 2025 and "double-digit" growth in the future, coupled with addressing issues related to the restructuring and organization of the two-tiered local government apparatus, is the objective of developing the draft Law.

In response to the opinion that the scope of the Law is quite broad, it is suggested that consideration be given to applying Resolution No. 206/2025/QH15 of the National Assembly on special mechanisms for handling difficulties and obstacles arising from legal provisions, allowing the Government to issue resolutions to address difficulties and obstacles caused by legal provisions instead of amending or supplementing the Law. Regarding this matter, the Government reports and clarifies as follows: The draft Law amends and supplements 15 laws, but the content of the amendments and supplements to these 15 laws focuses on adjusting and confining itself to three main groups of issues (organizational restructuring; administrative procedure reform, investment and business conditions; bottlenecks), primarily focusing on organizational restructuring while simultaneously addressing 20 already established bottlenecks in 9 laws to ensure immediate resolution in 2025. Separating the handling of these 20 bottlenecks to be implemented according to Resolution No. 206/2025/QH15 would result in 9 separate resolutions on bottleneck resolution, which is inappropriate.

Regarding the application of the mechanism in Resolution No. 206/2025/QH15, the drafting agency has identified two laws with obstacles that need to be addressed and has submitted to the Government two Resolutions to resolve the obstacles caused by legal regulations in the fields of agriculture and environment as stipulated in Resolution No. 206/2025/QH15, including: Government Resolution No. 66.3/2025/NQ-CP on resolving and handling obstacles to implement projects during the period when the National Land Use Planning for the period 2021 - 2030, with a vision to 2050, has not yet been approved for adjustment; Government Resolution No. 66.4/2025/NQ-CP promulgates specific mechanisms and policies to address difficulties in the implementation of the 2024 Law on Geology and Minerals. Furthermore, the handling of obstacles and bottlenecks in the draft Law amending and supplementing 15 laws is carried out through the issuance of legal normative documents as stipulated in point b, clause 1, Article of Resolution No. 206/2025/QH15.

Source: https://baotintuc.vn/thoi-su/thong-qua-cac-luat-trong-linh-vuc-tai-chinh-nong-nghiep-va-moi-truong-20251211141215602.htm