Proposal to continue reducing VAT by 2% in the first 6 months of 2024

Người Đưa TinNgười Đưa Tin05/10/2023


The new Government issued Resolution 164 of the regular Government meeting in September 2023 and the Government's online conference with localities.

Continue to apply environmental protection tax on gasoline

In the Resolution, the Government requested the Ministry of Finance to preside over and coordinate with agencies and localities to focus on drastic and effective implementation of solutions to ensure that the state budget revenue in 2023 meets the estimate assigned by the National Assembly, collects correctly, fully, and promptly, expands the revenue base, especially from e-commerce, digital platforms, etc., and prevents tax losses, especially for food services and night-time economic activities.

Manage the 2023 State budget expenditures closely following the assigned estimates, thoroughly cutting down on regular expenditures and unnecessary spending tasks.

Continue to effectively implement policies on exemption, reduction, and extension of taxes, fees, charges, and land rents that have been issued. For policies that are effective until the end of 2023, proactively research, review, consider, promptly propose, and report to competent authorities for extension if necessary to continue to remove difficulties for production, business, and people's lives.

Urgently complete the report dossier for the National Assembly Standing Committee to consider and continue applying the environmental protection tax rate on gasoline, oil, and grease as prescribed in Resolution No. 30/2022/UBTVQH15 in 2024, and submit it to the Government in October 2023.

Finance - Banking - Proposal to continue reducing VAT by 2% in the first 6 months of 2024

The Government requested the Ministry of Finance to urgently complete the report for the National Assembly Standing Committee to consider and continue applying environmental protection tax on gasoline, oil, and grease (Photo: Huu Thang).

Propose to the National Assembly to continue reducing value added tax by 2% in the first 6 months of 2024 and assign the National Assembly Standing Committee to consider and decide between the two National Assembly sessions if the economic and business situation remains difficult, and report to the National Assembly at the nearest session. Report to the Prime Minister before October 7, 2023.

Based on proposals from ministries, agencies and localities on fee and charge policies to encourage people and businesses to use online public services (such as collecting 0 VND fees or reducing 50% of fees and charges when performing online public services, applicable until the end of 2025), the Ministry of Finance will study, propose and report to the Prime Minister in October 2023.

Strive to reduce lending interest rates

The Government requests the State Bank to preside over and coordinate with agencies and localities to closely follow market developments to continue to operate monetary policy proactively, flexibly, promptly, effectively, and in a synchronous, close, and harmonious manner with fiscal policy and other policies, not to create strong fluctuations or sudden changes that affect the psychology of the market, businesses, investors, and people.

Manage exchange rates in accordance with the situation, contributing to controlling inflation, stabilizing the macro-economy, monetary and foreign exchange markets.

Continue to direct and guide credit institutions to review and simplify lending processes and procedures to increase access to credit for businesses and promote disbursement of credit packages of VND40,000 billion to support interest rates, VND120,000 billion for social housing loans, VND15,000 billion for forestry and fishery sectors; direct credit to production and business sectors, priority sectors and growth drivers; continue to strive to reduce lending interest rates.

Closely monitor the bad debt situation, have solutions to limit the increase of bad debt, improve credit quality, and ensure the safety of the credit institution system .



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