PROPOSAL FOR EXEMPTION OF TAXES, FEES AND FEES FOR ENTERPRISES AFFECTED BY COVID 19

PROPOSAL FOR EXEMPTION OF TAXES, FEES AND FEES FOR ENTERPRISES AFFECTED BY COVID 19 | Business Law

This is the content of the draft Resolution on tasks and solutions to remove difficulties for production and business, and disburse public investment capital. Accordingly, in order to reduce a series of taxes, charges and fees to support enterprises to overcome difficulties and continue production, the Government assigned the Ministry of Finance:
– Immediately implement the authority:
+ To promulgate a Circular to exempt and reduce fees and charges, for example, fees for evaluation and issuance of permits to exploit and use water resources, fees for exploitation of hydro-meteorological data and fees for operation licenses of credit institutions. , construction investment project evaluation charge, construction investment project design evaluation fee, construction activity certificate issuance fee, construction practice certificate exemption fee for individuals.
+ Presiding over and coordinating with the Ministry of Transport and other relevant agencies to realize the exemption and reduction of charges, especially tolls, port fees, road maintenance fees, aviation service charges (parking fees) parking, takeoff, landing, flight control, security, projection service, etc.) as prescribed.
+ Shorten the time to control expenditures, ensure strict and compliant with regulations; coordinate with investors in promptly handling problems arising from payment procedures; negotiate, sign agreements, withdraw capital from donors as prescribed.
– Reviewing and reporting to the Government on the handling plan for the extension of the time limit for paying tax and land rents to entities operating in the fields of oil and gas exploitation and petrol and oil trading; extend tax payment time limit for royalties, special consumption tax, …
– Report to the Government for comments and submit to the Standing Committee of the National Assembly and the National Assembly in April 2020 adjusting the family allowances deduction of personal income tax; exemption and reduction of environmental protection tax for input fuels of transport industries, especially research on further reduction of E5RON92 biofuel to encourage the use of biofuel; 50% reduction of registration fee when registering domestically manufactured or assembled cars by the end of 2020 to stimulate domestic consumption; preferential policies on special consumption tax for domestic automobile industry; 50% reduction of corporate income tax for small and medium-sized businesses in 2020 to support and develop small and super small businesses; exempt and reduce 50% VAT rate (currently 10%) for goods and services in trouble, goods and materials to reduce input costs for production of enterprises; exemption of agricultural land use tax for households and farmers; temporarily reduce or exempt enterprise income tax and personal income tax for enterprises and individual business households to apply for the tax period 2020; consider refunding VAT in 2020 for a number of industries heavily affected, directly by the Covid-19 epidemic such as aviation and tourism.
– Research and report to the Government on the increase in the deadline for payment of corporate income tax in 2019, value added tax, personal income tax, land rent to 1 year (Decree No. 41/2020 / ND- CP is 05 months); supplementing the regulations on deferring or defering flat tax payment to business households engaged in production and business activities affected by Covid-19 epidemic like enterprises; 100% exemption from license fees in 2020 for business households affected by Covid-19 epidemic for business households already paid, the amount paid is deducted from the license fees payable in the years after.
– Assume the prime responsibility for, and coordinate with the State Bank of Vietnam and the Ministry of Planning and Investment in, seeking additional resources for the state budget, especially loans from international organizations; elaborate plans on mobilization from other sources, including from foreign exchange reserves, to supplement resources to the State budget in other necessary and urgent cases; urgently research and propose negotiations to delay the repayment obligations of the state budget.
– Urgently complete procedures and allocate sources to increase charter capital for joint-stock commercial banks where the State holds dominant shares.
– Reviewing the Government’s report on allowing the delayed payment of a part of export tax for about 5 months (until the end of the second quarter of 2020) to create conditions for enterprises to have additional working capital to boost exports. Password. Review import and export tariffs issued by the Government to promptly adjust tax rates for a number of sectors such as import tax on aviation.

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