The Finance Ministry will propose revisions to tax-related laws this year in order to provide more favourable conditions for businesses and ensure the laws’ transparency and feasibility.
According to the ministry, the laws on value-added tax (VAT), special consumption tax and corporate income tax will be comprehensively adjusted.
The ministry also said the adjustment of the three laws will follow the direction of the policy to encourage private businesses’ investment in health care, education and vocational training services.
In addition, the ministry will also request for amendment of the Ordinance on Land and House Tax and the Law on Land Use Rights Transfer Tax in order to accommodate the public’s housing demand and increase tax revenues.
The ministry has recently put online the drafts of the revised Business Income Tax and the VAT Law on its website at www.mof.gov.vn for public recommendation.
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