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Amending the Value Added Tax Law, avoiding the situation of 'frame law' and 'tube law'

On the morning of December 18, the National Assembly Standing Committee (TVQH) approved a proposal to add to the 2024 Law and Ordinance Building Program the Law on Value Added Tax (amended).

Accordingly, the above law project will be considered and commented on by the National Assembly at the 7th Session and approved at the 8th Session.

To continue to institutionalize the policies and guidelines of the Party, the State, and records, Minister of Justice Le Thanh Long proposed to develop a law with 5 policy groups: Completing regulations on non-taxable subjects; regulations on tax calculation; regulations on tax rates; regulations on input value added tax deduction and completion of tax refund regulations.

Speaking at the discussion session, National Assembly Chairman Vuong Dinh Hue said that when the National Assembly passed the Resolution on global minimum tax, it required a comprehensive review of the law on investment incentives and laws on taxes... so it is necessary to be proactive in calculating overall taxes including laws on taxes and the Law on Tax Administration.

Concerned about the scope of regulations on taxable items, especially agricultural products, the Chairman of the National Assembly said that in the past, it was done very carefully, but later many negative violations arose related to VAT invoices and coffee. , shrimp, fish... However, it is impossible to destroy everything because of fraud in one department; Otherwise, the nature of VAT will not be guaranteed; In case of fraud, we must fight harder to handle it.

Regarding VAT on hydropower, according to the Chairman of the National Assembly, the tax allocation is not of the right nature. VAT on investment projects, especially expansion investment projects, currently has many contents raised by voters that need to be reviewed for amendment.

In addition, the Chairman of the National Assembly noted that VAT regulations are contained in many different decrees, so it is necessary to review and legalize them as much as possible to avoid the situation of "frame laws" and "tube laws", especially for tax laws. VAT refund is also an issue that needs attention.

Deputy Minister of Public Security Nguyen Duy Ngoc said that major cases show that legal loopholes are taking place. Therefore, the Ministry of Public Security will work with the Ministry of Finance and the Ministry of Planning and Investment to connect business data and tax data, along with population data to meet the concerns of the Chairman of the National Assembly.

Meanwhile, Chairman of the Legal Committee Hoang Thanh Tung requested the drafting agency to clarify the basis for adjusting subjects from not subject to value added tax to subject to 5% or 10% tax; Review taxable product groups to ensure coverage of taxable subjects.

In addition to the Law on Value Added Tax (amended), Chairman of the Finance and Budget Committee Le Quang Manh noted that the Law on Special Consumption Tax and the Law on Corporate Income Tax are very important but have not been ratified by agencies. bag. Therefore, Mr. Manh requested the Ministry of Finance and the Government to urgently complete these two law projects to include in the 2024 law and ordinance development program.

source: cafebiz.vn