(VOVworld) – On Thursday, the National Assembly Standing Committee gave opinions to a draft resolution on revised royalty tax.

The increase in tax rates is expected to add 140 million USD to the state budget, according to the Finance Ministry. (Photo: VNA/VNS Photo Trong Dat)

Most deputies agreed on the need to issue the document and reached the consensus on adjusting tax rates for metallic minerals, non-metallic minerals, and natural water as indicated in the government’s proposal.

Lawmakers also debated the government proposal on issuing a financial and personnel management mechanism for taxation and customs agencies until 2020, an ordinance on market management, management spending for Vietnam Social Insurance, and the mandated contributions from the state budget to the Social Insurance Fund.