Recently, the Ministry of Finance has just received a dispatch on the proposal to amend the value added tax law, the excise tax law and the corporate income tax law after 2022 from the Vietnam Federation of Industry and Trade (VCCI). . Accordingly, VCCI believes that value-added tax (VAT) often has a great impact on socio-economics because it is levied on all stages of the product (from production, circulation to consumption). In fact, the National Assembly's adoption of Resolution No. 43/2022/NQ15 on fiscal and monetary policies to support the program of socio-economic recovery and development has brought positive signs to the economy. economy in Vietnam and is welcomed by businesses, because the VAT in 2022 has been reduced for many goods and services. Therefore, VCCI recommends that the Government maintain this policy after 2022 for sectors heavily affected by the Covid-19 pandemic such as tourism, hotels, aviation, logistics, etc. Price is extremely important for the aviation and service industries, because tax cuts will encourage businesses to actively resume operations, contributing to speeding up the recovery process of the whole industry.
In addition, for other goods and services, VCCI recommends that the Government consider stabilizing VAT rates for businesses to recover and develop sustainably, because the current VAT law still stipulates many types of items. Goods that are not subject to VAT (such as cultivation, husbandry, aquatic products, unprocessed fishing, etc.) make many businesses difficult. From here, VCCI proposes to minimize non-taxable items, and at the same time convert those items to taxable items, with the tax rate depending on the policy target, possibly 0% or 5%. .
