Proposal to reduce corporate income tax for press agencies to 10%
VTC News•23/09/2024
The Chairman of the National Assembly's Committee on Culture and Education proposed reducing corporate income tax for all types of press agencies to 10%.
On the morning of September 23, continuing the 37th session, the National Assembly Standing Committee gave its opinion on the draft Law on Corporate Income Tax (amended). Notably, regarding preferential tax rates, the Government proposed that press agencies other than print newspapers (electronic, television, radio) could enjoy a preferential tax rate of 15%, a 5% reduction compared to the current rate. Print newspapers will continue to apply the preferential tax rate of 10% as currently regulated.
Chairman of the National Assembly's Committee on Culture and Education Nguyen Dac Vinh. (Photo: quochoi.vn)
Discussing this content, Party Central Committee member, Chairman of the National Assembly's Committee on Culture and Education Nguyen Dac Vinh said that the press is a revolutionary press agency, a public service unit under state agencies. Mr. Nguyen Dac Vinh stated that in reality, the current revenue of press agencies depends largely on advertising activities and the press economy. However, the advertising "cake" is decreasing significantly, causing difficulties for press agencies. " Therefore, the Committee on Culture and Education has worked with the Ministry of Information and Communications and agreed to propose a common tax rate for the press of 10% as for printed newspapers at present ," said the Chairman of the Committee on Culture and Education. Speaking at the meeting, Politburo member and National Assembly Chairman Tran Thanh Man said that the ultimate goal of amending the Law on Corporate Income Tax is to ensure a stable source of budget revenue, increase the rate of domestic revenue mobilization, overcome transfer pricing, prevent tax evasion and tax losses, and limit acts that erode the tax base. At the same time, the National Assembly Chairman noted the need to ensure fairness in Vietnam's tax system in accordance with practical requirements, trends and international practices.
National Assembly Chairman Tran Thanh Man. (Photo: quochoi.vn)
On that basis, the National Assembly Chairman emphasized that if we do it actively and with quality, we can submit it to the National Assembly at the 8th Session, otherwise we can submit it at the next Session. " The spirit is to innovate the way of making laws with new thinking and new perspectives. Whatever is within the scope of the National Assembly, the National Assembly will regulate it, whatever belongs to the Government (decrees, circulars) will be issued and implemented by the Government. At the level of decrees and circulars, when amended, it will be faster than laws ," said the National Assembly Chairman. Referring to the conclusion of General Secretary and President To Lam at the 10th Central Conference that we must pay attention to the institutions, wherever there are problems, we must amend them to create conditions for socio-economic development, the National Assembly Chairman also pointed out that there are laws that must be specified in detail such as the Penal Code and the Civil Code, and those related to the ever-changing and fluctuating socio-economic fields must be adjusted to suit the role of that sector or field. According to National Assembly Chairman Tran Thanh Man, the agencies of the National Assembly and the Government are working day and night to actively resolve the problems and difficulties in order to ensure economic and social development.
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