Vice Chairman of the National Assembly Nguyen Duc Hai clarified the regulation on the threshold of annual revenue not subject to VAT, the National Assembly Standing Committee unanimously proposed to assign the Government to regulate.
Chairman of the Finance and Budget Committee Le Quang Manh - Photo: GIA HAN
New proposal on VAT-free turnover threshold
Regarding the revenue from sales of goods and services not subject to value added tax, Chairman of the Finance and Budget Committee Le Quang Manh, after receiving and adjusting the draft, has stipulated a threshold of 200 million VND/year.
The Government proposes to keep this content as the draft law submitted at the 7th session (May 2024).
Accordingly, the Government is given authority to regulate the annual revenue threshold that is not subject to tax to ensure timely management in accordance with reality and changing socio-economic contexts.
The Government believes that raising the threshold for non-taxable revenue goes against the policy of encouraging business households to switch to operating under the enterprise model.
Opinions discussed at the meeting did not suggest that the Government regulate the level of revenue from sales of goods and services not subject to VAT.
Some opinions suggest raising this revenue threshold to over 200 million VND, others suggest raising it to around 300 million VND or 400 million VND for the coming years.
Mr. Manh said that at the meeting on November 11, the drafting agency agreed on the threshold of 200 million VND/year and removed the regulation on adjustment according to CPI. The majority of the Standing Committee of the Review Committee also agreed with this solution.
However, the drafting agency emphasized that this content needs to be consulted with Government leaders to reach consensus.
Vice Chairman of the National Assembly Nguyen Duc Hai - Photo: GIA HAN
Agree to assign the Government to regulate
Regarding the content of the threshold not subject to VAT, giving his opinion on the discussion, Vice Chairman of the National Assembly Tran Quang Phuong said that it is necessary to ask for the Government's opinion again.
Chairman of the Economic Committee Vu Hong Thanh said that in the review report, the review and drafting agency agreed to raise the level to 200 million VND. In case the CPI changes by 20%, Mr. Thanh proposed that the authority could be delegated to the National Assembly Standing Committee.
"If the Government agrees in this direction, then we agree," Mr. Thanh said.
In a later explanation report, Deputy Minister of Finance Cao Anh Tuan said that the drafting committee found that the current law stipulates 100 million VND and now adjusting it to 200 million VND/year as in the bill is also appropriate.
Mr. Cao Anh Tuan stated that the Prime Minister still strongly desires to delegate authority to the Government to regulate the threshold of annual revenue that is not subject to tax. "If delegated to the Government, it is in accordance with the Prime Minister's opinion, and the current draft law adjusting it to 200 million is also appropriate," Mr. Tuan said.
Concluding this content, Vice Chairman of the National Assembly Nguyen Duc Hai said that the issue of regulating the threshold of annual revenue that is not subject to unified tax will be assigned to the Government to regulate.
The Vice Chairman of the National Assembly emphasized the spirit of innovative thinking in law-making. The National Assembly only decides on what is within its authority, and the Government will implement and take responsibility for any content under the Government's authority.
Regarding the content that the Government has different opinions between the times of submitting, receiving and revising the draft law, the Government needs to have a specific report to ensure consistency and narrow down the contents that still have different opinions.
Regarding the contents discussed that still have different opinions among National Assembly deputies, Vice Chairman of the National Assembly Nguyen Duc Hai said that it is necessary to study and absorb as much as possible of opinions, and at the same time explain clearly and objectively to create consensus.
According to the program, this bill is expected to be considered and approved by the National Assembly in the second session (November 26).
Source: https://tuoitre.vn/se-giao-chinh-phu-quy-dinh-nguong-doanh-thu-hang-nam-thuoc-dien-khong-chiu-thue-vat-20241114112152102.htm
Comment (0)