MoF proposes support policies on taxes and fees in 2023

Deputy Minister of Finance Nguyen Duc Chi answered the press at the press conference. Photo: H.D

At the regular Government press conference on January 3, Deputy Minister of Finance Nguyen Duc Chi said amid the Covid-19 pandemic, many support policies on taxes and fees have been issued and implemented.

The deputy minister said that the support policies on extension, exemption and reduction of taxes and fees have created liquidity and supported cash flow for businesses. In addition, the Government and the Ministry of Finance have also issued and implemented policies to reduce land rent, and environmental protection tax for petroleum products. The support packages in 2022 are valued at VND233,000 billion. According to the deputy minister, these are unprecedented policies, so they have helped speed up the recovery of businesses and the economy.

In 2023, Deputy Minister Nguyen Duc Chi said that many advantages and disadvantages are expected, so in the last months of 2022, the Ministry of Finance has proposed polices on taxes and fees to support businesses.

Accordingly, the Ministry of Finance has reported to the Government to continue to extend and exempt tax payments for people and businesses to support cash flow, and reduce land rent and environmental protection tax for petroleum products.

“The Ministry of Finance has proposed policies on taxes and fees to support people and businesses in 2023, which are similar to those implemented in 2022. However, some policies will be revised compared with former policies. For example, the reduction of environmental protection tax on petroleum products will be adjusted compared with 2022,” said Nguyen Duc Chi.

However, the Government continues to support people and businesses through fiscal policy and prepares other scenarios if necessary in 2023. In addition, the Government will also regulate the fiscal policy with the monetary policy and other macro policies to ensure the stability of economic development.

Minister and Chairman of the Government Office Tran Van Son said that the Government will continue to support taxes and fees similar to 2022, but specific policies will be submitted to the Government for approval.

According to statistics of the General Department of Taxation, the Tax sector implemented policies on tax extension, exemption and reduction and land rent to support people and businesses, and conduct the economic recovery and development program worth over VND174,000 billion.