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This is the important content prescribed at the Decision No. 508/QD-TTg dated April 23, 2022 of the Prime Minister on approving the Tax System Reform Strategy until 2030.
This is the important content prescribed in the Decision No. 508/QD-TTg dated April 23, 2022 of the Prime Minister on approving the Tax System Reform Strategy until 2030.
On value added tax policy reform, the Strategy set some objectives as follows:
- Expand tax bases by reducing the goods and service group not subject to value-added tax and the one subject to the value-added tax rate of 5%;
- Then proceed to basically apply the single tax rate;
- Study the increase in value-added tax rate under the roadmap;
- Review and adjust the turnover threshold for the application of the tax credit method in conformity with the reality;
- Study and apply uniformly the method of calculating tax according to the percentage of turnover for taxpayers whose turnover is below the specified threshold or for the one not eligible to apply the tax credit method
- Complete regulations related to value-added tax applicable to exported goods and services, ensuring that they reflect the nature and conform with international practices. Research to amend and supplement regulations on value-added tax credit and refund in the direction of simplicity, transparency, and synchronization with relevant law regulations;
Besides, this Strategy supplements a number of important contents as follows: Develop a roadmap of tax increases for tobacco, liquor and beer to limit the production and consumption of such products; implementing enterprise income tax incentives for small- and micro-sized enterprises; supplementing regulation on collection of tax on houses in order to encourage the effective use of houses and land, contributing to limiting speculation in houses and land....
