On the afternoon of October 8, the Provincial National Assembly Delegation held a consultation conference to collect opinions on the draft laws: Law on Value Added Tax (amended); Law on Special Consumption Tax (amended); Law on Corporate Income Tax (amended), to be submitted to the 8th Session of the 15th National Assembly (phase I). Comrade Do Thi Lan, Vice Chairwoman of the National Assembly's Social Committee, chaired the conference.

The draft Law on Value Added Tax (VAT) (amended) is expected to consist of 4 chapters and 16 articles, with specific provisions on taxable subjects, non-taxable subjects, taxpayers, basis and method of tax calculation, deduction and refund of VAT. The project aims to complete regulations on VAT policy to cover all revenue sources, expand the revenue base; contribute to improving the capacity and effectiveness of tax management activities in preventing and combating tax evasion, tax losses and tax debts; ensure correct and sufficient collection to the State budget, and ensure stable State budget revenue sources.

The draft Law on Special Consumption Tax (amended) consists of 4 chapters and 12 articles. The law is designed to address emerging shortcomings, encourage the conversion of import, production and use of environmentally friendly products, and limit the consumption of goods harmful to health. The specific goals are to expand the tax base; limit the import, production and consumption of products harmful to health and the environment; encourage investment, production, import and use of environmentally friendly cars; amend shortcomings in current regulations to ensure transparency, ease of understanding and implementation of the law.

The draft Law on Corporate Income Tax (CIT) (amended) consists of 4 chapters and 20 articles, aiming to create favorable conditions to promote and support enterprises to expand production and business; review and rearrange tax incentive policies to encourage and attract investment in developing priority sectors, fields and areas according to the orientation of the Party and the State. At the same time, CIT incentives will be implemented for small-scale enterprises, encouraging business households to transform into enterprises to nurture and create stable sources of income in the future.

At the conference, delegates focused on discussing and highly appreciated the elaborate and thorough preparation of the draft laws before advising the Government to submit them to the National Assembly. At the same time, delegates participated in clarifying and supplementing many important contents for the 3 projects on the scope, subjects of regulation, authority and functions of state management agencies, such as: Non-taxable and taxable subjects; revenue from sales of goods and services not subject to VAT; tax imposition on goods in the fields of agriculture and aquaculture; regulations on tax deduction and refund; subjects of enterprises enjoying preferential tax policies; prohibited acts and sanctions for violations in the draft laws...

Comrade Do Thi Lan, Vice Chairwoman of the National Assembly's Social Committee, highly appreciated the opinions and contributions of the delegates. The opinions and contributions at the conference will significantly contribute to the National Assembly amending the draft laws to ensure consistency, constitutionality and legality. The provincial National Assembly delegation will receive and classify the opinions to synthesize and send to the agencies drafting the draft laws and will consider choosing to speak on the law-making at the 8th Session of the 15th National Assembly.