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People and businesses appreciate issued tax policies

Tax policies issued in the first six months of the year have encouraged business development. Photo: Internet

The report on task performance of the first six months of 2022 of the Tax Policy Department, the Ministry of Finance shows that this unit has completed the assigned tasks, contributing to the success of the Ministry and the sector in the implementation of the Law-making Program of the National Assembly, the National Assembly Standing Committee and the Government as well as in guidance on the implementation of socio-economic development tasks.

Accordingly, the Department has launched 32 projects, of which 11 are under the jurisdiction of the National Assembly, the National Assembly Standing Committee, seven are under the jurisdiction of the Government, and 14 are under the jurisdiction of the Ministry of Finance; promptly advised the leaders of the Ministry to submit to the competent authorities to issue many policies on taxes, fees and charges arising outside the Work Program such as amending the excise tax rate policy for electric cars; the resolution of the National Assembly Standing Committee on the green tax for gasoline, oil and grease; the Government's decree detailing the implementation of the tax exemption and reduction policy for the socio-economic recovery and development program; and regulations on registration fees.

According to Mr. Nguyen Quoc Hung, Director of the Tax Policy Department, although many policies were to be issued at a very urgent time, the department made efforts to develop and issue the policies in a timely manner, ensuring quality and efficiency, which were appreciated by people and businesses. This result was due to the initiative in performing the assigned tasks of the department.

Mechanisms and policies developed by the Tax Policy Department have contributed to ensuring state budget revenues, meeting commitments of international integration, and stabilizing the macro-economy, ensuring social security; encouraging production and business development, creating trust for businesses and people.

Thereby, creating a consensus in the implementation of guidelines and policies of the Party and State, and creating a spillover impact on all aspects of socio-economic life.

As a policy-making unit, the Tax Policy Department is always aware of the importance of administrative reform. The Department has accelerated the reform of administrative procedures in the process of studying and developing tax, fee and charge policies towards a simple, easy-to-understand and easy-to-perform manner.

In the last six months of the year, the Tax Policy Department still has to complete a large number of policy documents. In which, the department has to submit to the Government and Standing Committee of the National Assembly on the Report on research and review of the Law on Environmental Protection Tax; Report on research and review of the Law on Natural Resources Tax; Report on research and review of the Law on agricultural and non-agricultural land use taxes; Report on research and review of the Law on Import and Export Taxes; and Report on research and review of the Law on Personal Income Tax.

Furthermore, the Tax Policy Department is also preparing to submit to the competent authority for promulgation the revised tax laws for the new period in accordance with the Resolution of the Politburo and the National Assembly; carry out other arising projects as directed to restore and develop the economy, contributing to controlling inflation and stabilizing the macro-economy, for example the National Assembly's resolution on reducing value-added tax and excise tax for gasoline.

In the second half of the year, the Tax Policy Department shall also develop four decrees under the authority of the Government, seven circulars on fees and charges and one circular guiding the implementation of value-added tax under the List of Vietnam's imported goods under the jurisdiction of the Ministry of Finance

In order to perform the tasks of researching and developing tax policies, fees and charges as planned, the Tax Policy Department proposes the units (General Department of Taxation, General Department of Customs, Institute of Financial Strategy and Policy and Legal Department) to coordinate and support the Department in policy formulation.

The coordination and support of the units in the Ministry will contribute to helping the Tax Policy Department limit difficulties in terms of databases, information and necessary facilities in the process of developing policies on taxes, fees and charges.