Chairman of the NA Committee for Finance and Budget, Phung Quoc Hien delievers report on explanations and revision of revised draft law on tax administration. (Photo: Doan Tan/VNA)

(VOVworld) – NA deputies on Thursday discussed the revised laws on cooperatives and tax administration. They said that cooperatives are different to businesses in the ways they are set up and managed as well as having structured economic distinctions. Cooperatives are established by communities for mutual support, helping their members to meet local economic and cultural demands instead of profits. Danh Ut is a deputy from Kien Giang province ‘The development of cooperatives is important in many economic and social individual aspects. Cooperatives are economic and social organizations that gather together workers, households, and small-scale producers. They are a great social force but most of them are farmers, poor people who are restricted by out of date techniques and a lack of capital. The government needs to introduce more incentives for cooperatives.’

On the same day, the revised Law on Tax Administration was debated. The amendments are to facilitate the best ways for people and businesses to pay their taxes in terms of cost and efficiency, strengthen the management of the tax administration to avoid missed payments, and reduce the tax debt. Than Duc Nam, a deputy from Da Nang City, talks about simplifying the administrative procedures ‘Under the 2006 Law on Tax Administration, tax payers have up to 275 days to complete their payments since the date of their customs declaration. This revised draft law requires that tax payments must be completed before customs clearance. I think this revision will restrict the abuse of the period of grace for tax payments. However, it may harm policies that encourage exports and hamper production and business operations.’

Many deputies called for progressive fines to be imposed on late payments. The revised law is expected to take effect next July.