[Video] Removing obstacles for agriculture and tax refunds: National Assembly considers amending the Law on Value Added Tax

On the morning of December 8, continuing the 10th Session, the 15th National Assembly listened to the Report on the draft Law amending and supplementing a number of articles of the Law on Value Added Tax.

Minister of Finance Nguyen Van Thang stated that amending the law is urgent to overcome the consequences of natural disasters, storms and floods and support the recovery of production and business, especially in the agricultural sector, while removing "bottlenecks" in value-added tax refunds.

According to the Minister, the draft focuses on three contents: including agricultural products that are not subject to tax but still have input deductions to reduce capital pressure; adjusting tax policies for animal feed to ensure equality between domestically produced goods and imported goods; abolishing the tax refund condition requiring buyers to only be refunded when sellers have declared and paid taxes - a regulation that is causing tax refunds in the export business sector to slow down significantly.

Presenting the review report, Chairman of the Economic and Financial Committee Phan Van Mai said that the Committee agreed to accept opinions from practice to promptly resolve difficulties, but noted the need to carefully assess the risks of revenue loss, fraud and clarify the responsibilities of management agencies in tax refund work. Although there were opinions that the time to amend the law was too early, the National Assembly Standing Committee still agreed to submit it to the National Assembly for consideration at this session to immediately support businesses, expected to take effect from January 1, 2026.

LE CHI - NGUYEN THUY

Source: https://nhandan.vn/video-go-vuong-cho-nong-nghiep-va-hoan-thue-quoc-hoi-xem-xet-sua-luat-thue-gia-tri-gia-tang-post928713.html