On the afternoon of October 10, National Assembly deputies (NADs) including: Mai Van Hai, Provincial Party Committee member, Deputy Head of the Provincial NA Delegation; Vu Xuan Hung, Major General, Standing Member of the National Assembly's National Defense and Security Committee; Vo Manh Son, Provincial Party Committee member, Chairman of the Provincial Labor Federation; Cam Thi Man, full-time NAD; Pham Thi Xuan, civil servant of the Quan Hoa District Party Committee Office met with voters at the Thanh Hoa Provincial Tax Department with the topic of contributing opinions to the Draft Law on Value Added Tax (VAT) (amended).
Conference overview.
The draft Law on Value Added Tax (amended) is built with many new points to ensure coverage of all revenue sources and expand the revenue base. Accordingly, there will be 25 groups of goods and services not subject to VAT. The prescribed tax rates include 3 levels: 0%, 5% and 10%, in which the amended Law has adjusted a number of groups of goods and services that are not subject to tax to taxable levels and increased the tax rate for some groups from 5% to 10%. The draft amended Law also adds a provision that goods and services purchased to be deducted from input tax must be paid through a bank to prevent fraudulent acts in deduction and refund of tax...
National Assembly Delegate Cam Thi Man presented a report asking for comments on the Draft Law on Value Added Tax (amended).
Discussing at the conference, delegates all affirmed the necessity of amending the VAT Laws with the aim of continuing to create a favorable investment environment, enhancing healthy competitiveness; ensuring clear and transparent tax policies, in line with international practices and ensuring revenue for the State budget.
Director of Thanh Hoa Provincial Tax Department Ngo Dinh Hung spoke at the conference.
Contributing to the Draft Law on VAT (amended), opinions focused on discussing and giving opinions on the following contents: Non-taxable subjects, time of tax determination, prohibited acts, input VAT deduction, tax refund... Delegates also gave opinions on the amended contents to ensure the consistency and synchronization of the legal system. Specifically, the tax rate of 5% is calculated for fertilizers, ores for fertilizer production, pesticides and animal growth stimulants; fishing vessels in offshore and sea areas; specialized machinery and equipment serving agricultural production, and plant protection services.
Representatives of Thanh Hoa Provincial Tax Department contributed comments to the draft Law on Value Added Tax (amended).
At the same time, delegates also proposed to add regulations on the order and procedures for VAT refund, including specific regulations on the responsibilities of taxpayers and tax officials. Add some contents on VAT refund for exports and investments...
Representatives of Thanh Hoa Provincial Tax Department contributed comments to the draft Law on Value Added Tax (amended).
Commenting on the addition of cases eligible for VAT refund, some opinions said that according to the draft regulation, businesses that only produce goods and provide services subject to a VAT rate of 5% are eligible for a refund, which is quite consistent with reality. The nature of VAT refund for this case is to refund taxpayers who only produce goods and provide services subject to a VAT rate of 5%; meanwhile, the input VAT of the cost of goods subject to a tax rate of 10%, so the accumulated VAT is continuously deducted. The 5% control is to create equality between businesses that produce and provide services subject to different tax rates...
Representatives of Thanh Hoa Provincial Tax Department contributed comments to the draft Law on Value Added Tax (amended).
Delegates also suggested adding regulations on prohibited acts in tax deduction and refund to strengthen the legal basis for VAT implementation, VAT collection management and contribute to limiting fraud, tax deduction and refund, ensuring the strictness of the law...
Comrade Mai Van Hai, Provincial Party Committee member, Deputy Head of the Provincial National Assembly Delegation concluded the working session.
Concluding the working session, Deputy Head of the Provincial National Assembly Delegation Mai Van Hai acknowledged the delegates' comments on the draft Law on VAT (amended). The comments will be received, synthesized, and forwarded to the drafting agency for consideration and submission to the 8th Session of the 15th National Assembly so that when the Law is enacted, it will come into effect and be implemented in the most effective manner.
Khanh Phuong
Source: https://baothanhhoa.vn/nhieu-y-kien-dong-gop-vao-du-thao-luat-thue-gia-tri-gia-tang-sua-doi-227238.htm
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