Reporter of Vietnam Law Newspaper interviewed Minister Ho Duc Phoc:
Looking back at 2023, according to the Minister, what is the most important milestone in the work of perfecting legal policies and innovating on TCTC - state budget?
- 2023 is an important year, creating the foundation for implementing the goals of the 5-year Socio-Economic Development Plan (SEDP) 2021 - 2025. In the context of the world situation with intertwined advantages, opportunities and difficulties, challenges, many unprecedented issues, beyond the forecast when building the 2023 SEDP, implementing the Party's policies, Resolutions of the National Assembly, the Government and the direction of the Prime Minister, the Finance sector has proactively and promptly proposed fiscal policy solutions, resolutely organized and implemented them to successfully complete the financial - State budget tasks, contributing to promoting socio-economic recovery and development, ensuring social security (SSS) and people's lives. In those recognized results, there are important contributions from the work of building and perfecting financial institutions, policies and laws.
In 2023, the Ministry of Finance submitted to the Government and the National Assembly for approval of the Law on Prices (amended) and approved 05 resolutions; submitted to the National Assembly Standing Committee (NASC) for approval of 02 resolutions; submitted to the Government for promulgation of 19 decrees and is considering promulgation of 15 draft decrees; submitted to the Prime Minister for promulgation of 04 decisions and is considering promulgation of 02 decisions; and issued under its authority 64 circulars in the field of finance - State budget.
Pursuant to Decision 2114/QD-TTg dated December 16, 2021 of the Prime Minister, the Ministry of Finance has implemented the Research Reports on reviewing laws and coordinated with relevant agencies to submit to competent authorities for consideration and inclusion in the Law and Ordinance Development Program for the period 2023 - 2025 for the draft Law on Value Added Tax (VAT) (amended), the draft Law on Special Consumption Tax (SCT) (amended), the draft Law on Corporate Income Tax (CIT) (amended), the draft Law on Management and Use of State Capital Invested in Production and Business (SXKD) at Enterprises (amended).
The Ministry of Finance has reported to the Government and the Prime Minister on the research and review of the Law on Environmental Protection Tax; Law on Natural Resources Tax; Law on Export Tax and Import Tax; Law on Personal Income Tax; Law on Non-agricultural Land Use Tax; Law on Tax Administration and the State Budget Law. Based on the conclusions of the Standing Committee of the National Assembly, the Ministry of Finance will promptly conduct research to propose the development of Laws and report to competent authorities to include them in the Law and Ordinance Development Program of the National Assembly and the Standing Committee of the National Assembly.
Although the institutional building task of the Ministry of Finance is quite heavy with a large number of documents that it has presided over drafting or promulgating (usually accounting for about 1/4 - 1/3 of the volume of legal document development of government agencies), with complex content, the Ministry of Finance has ensured the progress of completing the Law and Ordinance Development Program and the Work Program set forth by the Government and the Prime Minister. Thereby, it has contributed to perfecting the legal system on economics, the socialist-oriented market economy institution in general and the legal system on finance in particular, contributing to positively impacting the socio-economic life of the country, flexibly coping with challenges posed by the crisis and economic recession, promptly removing difficulties, promoting production and business, ensuring social security, etc.
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In 2024, the Ministry of Finance plans to submit to the Government to submit to the 15th National Assembly for comments on many draft laws. (Photo: NT). |
In the coming period, what areas will the task of building and perfecting the TCTC focus on, Minister?
- The Finance sector's financial strategy to 2030 sets the general goal of: Building a sustainable, modern and integrated national financial system, contributing to promoting growth, enhancing the resilience of the economy, ensuring macroeconomic stability and national financial security; implementing reasonable incentive policies, improving fiscal space, creating favorable conditions for mobilizing, allocating and effectively using financial resources, harmoniously solving socio-economic development and environmental issues, ensuring security, national defense and social security in association with the goals and tasks of the 10-year Socio-Economic Development Strategy 2021 - 2030.
Thus, it can be seen that the task of building and perfecting the financial system in the coming period is extremely heavy, with increasingly high requirements, requiring the Finance sector to continue to make more efforts to perfect the financial system with a number of focuses such as:
Regarding tax laws: Perfecting the system of collection policies associated with restructuring the state budget revenue towards covering all revenue sources, expanding the revenue base, especially new revenue sources, in line with reality, integration commitments and good international practices. Researching and developing reasonable tax rates, ensuring fairness and neutrality of the tax policy system. Increasing the proportion of domestic revenue in total state budget revenue, ensuring a reasonable proportion between indirect and direct taxes. Reviewing and adjusting tax incentive policies, eliminating tax incentives that are no longer suitable for development requirements; minimizing the integration of social policies in taxes and revenues. Implementing tax solutions to support businesses and people to overcome difficulties, recover and develop the economy, ensure financial balance - state budget; perfecting tax mechanisms and policies to encourage the development of science, technology and innovation, and budget collection policies for land, assets, resources;...
Regarding the law on finance - State budget: Continue to study and amend the State Budget Law, innovate the decentralization of the State budget in the direction of ensuring the leading role of the central budget, enhancing the initiative and autonomy of local budgets, in line with the development level of the economy, striving for the proportion of domestic revenue to reach over 85% of the total State budget revenue by 2025; gradually eliminate the method of integrated management between State budget levels, etc.
Regarding the law on corporate finance, the Ministry will submit to the Government and the National Assembly for approval the Law amending and supplementing a number of articles of the Law on Management and Use of State Capital Invested in Production and Business at Enterprises to be consistent with the policy of Resolution 12-NQ/TW of the 5th Conference of the 12th Party Central Committee on continuing to restructure, innovate and improve the efficiency of state-owned enterprises.
The Ministry will also continue to improve policies and laws on national reserves, develop and improve policies to mobilize resources outside the central budget for national reserves; and increase incentives for socialization of this activity. In addition, it will develop and improve a system of documents guiding the implementation of the 2023 Law on Prices. Thereby, creating a stable and unified legal environment in the field of prices, promoting the assignment and decentralization, improving the effectiveness and efficiency of state management in the field of prices, contributing to promoting the production and business activities of organizations and individuals.
Specifically, in 2024, what draft laws will the Ministry of Finance submit to the Government, Minister?
- In 2024, the Ministry of Finance plans to submit to the Government to submit to the 15th National Assembly for comments on many draft laws such as: the draft Law on Value Added Tax (amended), the draft Law on Special Consumption Tax (amended), the draft Law on Corporate Income Tax (amended), the draft Law on Management and Use of State Capital Invested in Production and Business at Enterprises (amended). At the same time, the program of drafting legal documents of the Government and the Ministry of Finance will be completed with quality (expected to submit to the Government and the Prime Minister to issue about 50 decrees, decisions and other projects; issue under authority about 100 circulars).
In the coming time, the work of perfecting the institution will be extremely heavy with increasingly high requirements, but from the results and experiences accumulated in the work of building laws, together with the efforts of the entire Finance sector, the TCTC will be continuously improved to make an important contribution to the socio-economic development of the country and successfully implement the goals of the Resolution of the 13th National Party Congress.
Thank you very much Minister!
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