On November 28, continuing the 8th Session, the National Assembly discussed in the hall the draft Law on Corporate Income Tax (amended).
Speaking to explain and receive opinions from delegates, Deputy Prime Minister and Minister of Finance Ho Duc Phoc said that the development of the Law on Corporate Income Tax (amended) must ensure correctness, suitability, fairness, and promote development.
The Deputy Prime Minister affirmed that tax is still the main source of revenue for the state budget, which is currently experiencing a relatively large deficit. Meanwhile, in the coming time, important infrastructure projects will be built, so the budget deficit and public debt will increase.
According to the Deputy Prime Minister, the current world trend is to tighten fiscal policy, that is, increase tax rates to ensure the stability of public finances.
However, Vietnam has just experienced a pandemic, so it is still reducing taxes to create conditions for business development; compared to many countries in the region, Vietnam's corporate income tax is also lower.
Regarding corporate income tax, the Deputy Prime Minister affirmed that all corporate income is taxable income.
Foreign enterprises that do not have a permanent address in Vietnam but have activities in Vietnam and generate income must also pay corporate income tax.
“In the past, we have collected taxes from e-commerce platforms and online sales…” - Deputy Prime Minister Ho Duc Phoc stated.
Another issue related to digital platforms, the Deputy Prime Minister said that for a long time, the financial sector has always been at the forefront of applying information technology in serving the requirements of the sector's work from customs, tax, treasury, etc.
“We are currently focusing on applying AI and information technology to management. Last week, we launched a virtual robot to serve taxpayers. Taxpayers can ask any question and receive an answer,” said the Deputy Prime Minister.
The Deputy Prime Minister gave an example of a user asking how much tax can be refunded with this revenue and expense, how much tax must be paid, how long is the delay... Or how much tax must be paid by an individual with an income of 200 million VND a year. All were answered.
