The Ministry of Finance responds to VASEP's tax policy suggestions
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- Business
- 22:00 21/09/2023
DNHN - Previously, VASEP proposed that the Ministry of Finance expedite the VAT refund process for exported goods and services, among other measures.
The Ministry of Finance has responded to the suggestions and recommendations made by the Vietnam Association of Seafood Exporters and Producers (VASEP) regarding VAT issues, import tax reduction, and cost ceilings. Include loan interest costs in the computation of corporate income tax.
VASEP has proposed that the Ministry of Finance take measures such as accelerating VAT refunds for exported goods and services, extending tax exemption and reduction policies, and extending tax payment, land rent, and exemption fees until the end of 2023. The Ministry of Finance has investigated and proposed support solutions for the financial sector, particularly solutions about taxes, fees, charges, and land rent. This includes extending the payment deadline for value-added tax, corporate income tax, personal income tax, special consumption tax, and land rent in 2023 to support businesses and individuals.
In addition, the VASEP Association has proposed amending certain provisions of Decree No. 132/2020/ND-CP to lower the cap on loan interest costs when calculating corporate income tax. The Ministry of Finance has taken note of this opinion and is currently reviewing and evaluating the implementation of Decree No. 132/2020/ND-CP to determine whether it should be amended or supplemented.
In addition, VASEP has requested that the Ministry of Finance consider reducing the import tax on dry soybeans from 2% to 0% to support the Vietnamese aquaculture and livestock industries. The Ministry of Finance has implemented the tasks outlined in Resolution No. 58/NQ-CP and will review preferential export tax and import tax rates for production inputs. locally sourced.
Finally, VASEP has proposed improving the post-customs clearance inspection process for businesses, particularly by reducing inspections for companies with good operating procedures and no history of violating operational regulations. This opinion has been noted by the Ministry of Finance, which believes that further consideration is required before appropriate decisions can be made.
P.V (t/h)
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