The National Assembly has agreed to continue reducing value-added tax (VAT) by 2% for groups of goods and services from July 1, 2024, to December 31, 2024.
Illustration photo: Nhat Sinh
On the morning of June 29, the National Assembly voted to pass the resolution of the 7th session of the 15th National Assembly. The resolution includes a 2% reduction in VAT for specific groups of goods and services.
The National Assembly has tasked the Government with organizing and implementing policies to achieve the set goals. The Government is responsible for managing and executing the collection task without affecting the revenue estimate and state budget deficit for 2024, as per the National Assembly's resolution. This ensures sufficient revenue for estimated expenditure tasks and urgent needs.
The 2% VAT reduction applies to several groups of goods and services, excluding sectors such as real estate, securities, banking services, telecommunications, information technology, coke, chemical products, and goods and services subject to special consumption tax.
The resolution also states that Vietnam Airlines Corporation (Vietnam Airlines) has been granted an extension to repay its refinancing loan. Specifically, the State Bank will automatically extend the repayment deadline three times for the national airline's VND 4,000 billion (US$17 million) loan to help overcome immediate difficulties.
Each extension period matches the initial recapitalization period, with the total duration of the extensions not exceeding five years (including two extensions under Resolution 135 of the National Assembly).
The National Assembly has assigned the Government to direct the State Capital Management Committee at Enterprises and Vietnam Airlines to develop a comprehensive development strategy. The aim is to promptly complete a project with solutions to help the airline recover and develop sustainably.
The Government is also expected to accelerate the comprehensive restructuring of Vietnam Airlines, clearly defining the responsibilities of agencies in implementing commitments to the National Assembly on the effectiveness of the recapitalization loan solution. Agencies should increase inspection, audit, and supervision to ensure compliance with regulations.
Focus on arranging administrative units at district and commune levels
The Secretary General of the National Assembly reads the draft resolution of the session before the National Assembly passes it. Photo: National Assembly
The National Assembly has requested the Government to coordinate with relevant agencies to continue implementing the goals, tasks, and solutions set out by the Party, the National Assembly, and the Government.
The Government needs to closely monitor and forecast domestic and international developments, creating appropriate, practical, and feasible policy solutions to overcome shortcomings and limitations. The goal is to resolutely organize implementation, striving to achieve the highest targets in the 2024 Socio-Economic Development Plan.
The National Assembly has called for effective management of the gold market to ensure stability and health. It also aims to support and recover the tourism market and ensure the number of aircraft and operating capacity of domestic airlines.
Additionally, the National Assembly has emphasized the need to reform public services and the civil service, perfecting institutions and regulations to attract and promote talent. It also aims to encourage dynamic, creative officials who dare to think and act for the common good while overcoming issues such as avoidance, fear of mistakes, and fear of responsibility among officials and civil servants.
The National Assembly has tasked the Government with implementing the arrangement of administrative units at the district and commune levels for the period 2023-2025, aiming to complete this by September to ensure organizational stability for localities holding Party congresses at the grassroots level in 2025.
Vietnamnet.vn
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