The National Assembly's Finance and Budget
Committee concurred with the Government's latest tax cut proposal but said no
to a tax exemption plan.
During
the committee's plenary meeting on Thursday, members reviewed Government
Resolution No. 13/NQ-CP which was issued on May 10, outlining measures to help
businesses overcome difficulties this year.
All
members agreed on the proposal to reduce corporate income tax for small and
medium enterprises (except those involved in real estate, securities, finance,
banking, insurance or selling special consumption tax goods and services) and
labour intensive enterprises involved in the manufacturing and processing of
agriculture, forestry and aquatic products, textiles and garments, leather and
footwear, electronic components, and construction of certain infrastructure
projects.
However,
they rejected a proposal to exempt firms from VAT, personal income tax and
corporate income tax for individuals and businesses that provided accommodation
for workers and students and those that provided childcare services or meals
for workers on the condition that they would have to maintain service costs at
the same level as the end of 2011.
The
committee argued that the National Assembly had issued Resolution 08/2011/QH13
last August which sought to reduce by half the relevant taxes for the above
groups, but the results of the resolution had not been thoroughly reviewed to
provide solid evidence on whether to put into place another preferential
taxation policy.
VNS
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