Vietnam has exempted, reduced, and extended more than 152,000 billion VND in taxes.

The Ministry of Finance has just announced that it is continuing to research, review, and make a comprehensive assessment of the implementation of fiscal policies to advise the Government and the National Assembly on solutions to exempt, reduce, and extend taxes, fees, and charges.

Vietnam has reduced taxes by more than 152,000 billion dong in the first quarter. — The Ministry of Finance said that the total amount of money exempted, reduced, and extended by the end of September is estimated at about 152,500 billion VND. (Photo: DM)

Mr. Truong Ba Tuan, Deputy Director of the Department of Tax, Fee and Charge Management and Supervision (Ministry of Finance) said that recently, in the context of many economic difficulties, the Ministry of Finance has consulted competent authorities and issued many policies to exempt, reduce, and extend many taxes, fees, charges and land rents to support people and businesses.

The latest report from the Ministry of Finance shows that in September, the Tax and Customs authorities continued to implement policies on tax, fee, charge and land rent exemption, reduction and extension that have been issued to support businesses and people.

The total amount of exemption, reduction and extension is estimated to be about 152,500 billion VND by the end of September. Of which, exemption and reduction is about 49,600 billion VND; extension is about 102,900 billion VND.

"Currently, the Ministry of Finance is making a comprehensive assessment of the implementation to advise the Government and the National Assembly on future solutions," said Mr. Truong Ba Tuan.

Recently, based on the regular Government meeting in September 2023 and the implementation of the recovery policy, the Prime Minister assigned the Ministry of Finance to study and continue to reduce environmental protection tax on gasoline and oil and study and submit to the National Assembly to continue to reduce value added tax (VAT) by 2% in 2024.

Mr. Truong Ba Tuan affirmed: The Ministry of Finance is carrying out procedures to implement the Prime Minister's instructions.

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