The Government Office issued Notice of 281 of the Prime Minister's conclusions at the seminar with businesses to effectively implement Resolution 68-NQ/TW on private economic development. In which, there are a total of 8 recommendations on tax policies of enterprises.
Notably, the Vietnam Association of Small and Medium Enterprises recommends that there should be an independent, objective research unit to evaluate and report on the results, that unit includes a number of state agencies and a number of business associations to supervise the target of cutting administrative procedures according to the Resolution approving the Program to cut and simplify administrative procedures related to production and business activities in 2025 and 2026.
The Association of Small and Medium Enterprises also proposed to study the issuance of a free app, including a self-declaration tax program to support business conversion to a business model.
In the health sector, the Vietnam Private Hospital Association recommends adding a list of areas with "special investment priority" for high-quality hospital projects and medical facilities in disadvantaged areas and having policies to exempt and reduce corporate income tax, land use tax, land rent for businesses when investing in this area.
Recognizing the importance of research and development, Phu My Group Joint Stock Company proposed to allow tax deductions or exemptions and reductions of corporate income tax during the investment period for R&D, digital transformation, and environmental technology application items.
Notably, Mien Viet Cuong Cooperative proposed to consider a tax calculation mechanism for invoices under 100 million VND that are exempt from tax, invoices from 100 million VND or more are subject to tax of 8%, invoices from 1 billion VND to 2 billion VND are subject to income tax and VAT of specific 10% or 11% and do not have to pay accounting books, revenue of 2 billion or more is mandatory to establish a company and open a book.
Some other recommendations on tax policies have also been made by businesses and business associations such as research proposing that the National Assembly continue to reduce VAT rates by 8% until the end of 2025. Consider continuing to extend the VAT reduction policy to 8% until the end of 2025.
Research and promulgate preferential policies on VAT, corporate income tax, import tax, etc. for FDI enterprises when committing to and implementing technology transfer and human resource training for Vietnamese enterprises.
