On the morning of June 25, with 432/434 delegates participating in the vote, the National Assembly passed the Law amending and supplementing a number of articles of the Law on Bidding; Law on Investment under the Public-private Partnership method; Law on Customs; Law on Value Added Tax (VAT); Law on Export Tax, Import-Export Tax; Law on Investment; Law on Public Investment; Law on Management and Use of Public Assets (1 law amending 8 laws).
In particular, regarding the handling of problems with revenue reduction of BOT projects in the road sector signed before January 1, 2021, the addition of regulations of the PPP Law on the mechanism for handling risks of revenue reduction for BOT projects with contracts signed before the PPP Law takes effect is to implement uniformly, synchronously, and thoroughly handle the problems.
Minister of Finance Nguyen Van Thang said that according to Government statistics, there are 11 transport BOT projects with reduced revenue.
These projects are all ineffective projects, the State must be responsible for handling most of the problems due to objective reasons or due to the fault of the State agency, not the fault of the investor.
In response to the direction of competent authorities, the Government will issue a Decree detailing the ratio that the State shares with investors and PPP project enterprises on the difference between revenue in financial plans and actual revenue.
At the same time, specifically stipulate the sharing responsibilities of investors, project enterprises and lenders to ensure the principle of "harmonious benefits, shared risks", as a basis for Ministers and Chairmen of Provincial People's Committees to decide on the application of this sharing mechanism.
Regarding amending and supplementing a number of articles of the Law on Customs and the Law on VAT to ensure consistency in the legal system on VAT, the Government removed the regulation on VAT from the content of the draft Law on Customs and supplemented the content of amending the Law on VAT.
Providing the reason, Minister Nguyen Van Thang said that according to the provisions of current VAT law, on-site exported goods are subject to a VAT rate of 0%.
To stabilize the policy, facilitate on-site import and export activities, and synchronize with amending regulations on customs procedures for this case, it is necessary to add a regulation that on-site export goods are subject to a VAT rate of 0%.
This regulation will ensure that there is no overlapping tax collection and that the state budget revenue is not affected (total VAT revenue remains unchanged) while ensuring incentives for on-site export and import activities, especially in the current context of creating favorable conditions for business development.
Regarding amending and supplementing a number of articles of the Investment Law, the draft Law has strongly decentralized the authority to approve the investment policy of the Prime Minister to the Provincial People's Committee for 7 groups of investment projects.
Regarding the reduction of industries and occupations with conditions and conditions for business investment, this is a content that has an impact, affecting national defense, security, social order and safety, social ethics, and public health.
Currently, implementing the Government's direction, the Ministry of Finance has issued a document requesting ministries, branches and localities to review and propose cutting down on industries and professions with conditions and conditions for unnecessary business investment.
