(VOVworld) – The National Assembly’s deputies today/Tuesday continue to discuss the revised Draft Law and amendments to the Law on Tax Management. Most of the deputies agreed on the need to simplify the tax reform procedures further by reducing the level of bureaucracy to save time and costs while improving the efficiency of tax management. Some deputies suggested increasing the fines applied to tax violations and allowing every measure of law enforcement at the same time, instead of one at a time, to ensure the highest possible amount of debt is reclaimed. Deputy Nguyen Thi Kim Be, who represents Kien Giang province, said: "There have been no measures to prevent enterprises who claim they have suffered losses over many years but are still able to expand their production. Businesses can take advantage of this situation to evade paying their taxes, which costs the state budget a lot of money. I agreed with the supplements to the Law’s contents that relate to negotiation mechanisms on ways of defining tax rates."

Earlier the same day, the deputies discussed a draft resolution on tax solutions to help businesses and individuals overcome difficulties. Amid current economic difficulties, the government has submitted to the National Assembly a draft resolution on tax solutions to ease businesses’ difficulties and support the market. The solutions include a 30% reduction of this year’s tax for garments and textiles businesses, leather and footware companies, and also the construction of a socio-economic infrastructure. Individuals who rent houses for workers and students will be exempted from value added tax, income tax, and corporate tax this year.
Many deputies agree with a cut of corporate tax from 25 to 20% for some specific groups, and support the solution to reduce lending interest rate. Some deputies suggested an exemption of income tax for individuals and groups working in the social welfare sector while reducing 50% of tax and value added tax for neccesary goods such as food, sugar, medicine, fertilizers, pesticides, animal feed to help stabilize prices to contribute to solve difficulties for businesses and support consumers. Other deputies stressed the importance of supervising imported goods and strictly handling with tax evasions and couterfeiting. Representing Hai Phong city, Deputy Nguyen Van Binh said: "I propose additional income tax exemption at different levels with an amount of money up to 2.5 trillion VND or 120 million USD while waiting for amendments to the Law on Income Tax to be approved. This amount of money can be used to support consumption and reduce stocks. It is neccesary to support trade promotions both inside and outside the country, especially for domestic products. The monetary policies should be kept flexible while interest rates should be decreased to ease difficulties for businesses and the economy as a whole. We should focus credits for the agricultural sector and companies that employ many workers, are highly competitive and stable distributions. Only by so doing can we support businesses in time to stimulate production, boost consumption, and ensure social wellfare.

Deputies voted in aproval of a Resolution on Law and Ordinance Building Program for next year, adjustments to this year’s Program on Law and Ordinance Building.