Information from the Vietnamese government – Deputy Prime Minister Le Minh Khai has just signed a decision approving the Strategy for Tax System Reform to 2030.
For value-added tax (VAT), the goal is to basically apply a single tax rate.
The strategy will develop a roadmap to adjust and increase taxes on tobacco, beer and alcohol products to limit production and consumption.
Implementation of international commitments; review and adjust excise tax rates on a number of items to suit socio-economic conditions in the 2021-2030 period;
The study applies a combination of proportional tax rate and absolute tax rate to a number of goods and services subject to excise tax.
For export tax and import tax, continue to reduce the number of tax rates to simplify the import tariff, strive to reduce the number of import tax rates by 2025 from 32 at present to about 25. levels by 2025 and 20 levels by 2030.
Researching and amending and supplementing export tax and import tax policies to promote exports, encourage the increase of domestic value, and limit the export of raw resources and minerals.;
Having appropriate preferential policies to promote the development of spearhead industries, supporting industries and priority fields.
For corporate income tax, according to the Strategy, the content will be to review to amend or abolish tax exemption and reduction incentives that are no longer relevant.
Limit the integration of social policies with tax exemption and reduction policies, ensure tax neutrality for stable application in the medium and long term; implementing corporate income tax incentives for small and micro enterprises…
For personal income tax, additional review of taxable objects; study, amend and supplement in the direction of adjusting the amount and tax rates suitable to the taxable income in accordance with the nature of each type of income.
For property-related taxes (including agricultural land use tax and non-agricultural land use tax), the Government agreed to continue to exempt agricultural land use tax until the end of 2025.
Relevant agencies are responsible for summarizing and evaluating the overall implementation of the non-agricultural land use tax policy.
On that basis, complete research in the direction of increasing the regulation level for land and supplementing tax collection for houses in order to encourage effective use of houses and land, contributing to limiting speculation on houses and land.
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