The Government promulgated a Decree guiding 04 groups of tax exemption and reduction solutions to support businesses and people.

Supporting businesses and people to overcome difficulties caused by the impact of the COVID-19 epidemic.

For Resolution No. 406/NQ-UBTVQH15 to come into life soon, the Government issued Decree No. 92/2021/ND-CP dated October 27, 2021, guiding four groups of tax exemption and reduction solutions to support businesses, people overcame difficulties caused by the impact of the COVID-19 epidemic;

In 2020, to support businesses and people to cope with the impact of the COVID-19 epidemic by the context and conditions of the country; at the same time, continue to implement the socio-economic development objectives and tasks and the State budget in 2020 according to the Resolution of the National Assembly; The Government has promulgated and submitted to the competent authorities for promulgation policies on taxes, fees, charges, and land rent to promptly remove difficulties and support the promotion of production and business, and the restart of the economy.

Entering the year 2021, according to the operation of businesses, people continue to face many challenges, while the evolution of the COVID-19 epidemic is still extremely complicated, implementation of the directives of the Central Executive Committee, The Politburo, the Secretariat, the National Assembly, the Government, and the Prime Minister have directed the Ministry of Finance to review and research to continue to issue tax exemption and reduction solutions to continue supporting businesses and people overcome difficulties and promoting business development. Based on the proposal of the Ministry of Finance and the appraisal of the Ministry of Justice, the Government has approved the policy to submit to the National Assembly Standing Committee to promulgate some solutions on tax exemption and reduction to support businesses and people affected by the COVID-19 epidemic (Report No. 289/TTr-CP dated August 13, 2021); actively coordinate closely with agencies of the National Assembly to finalize the content of the dossier and submit it to the National Assembly Standing Committee On October 19, 2021, the Standing Committee of the National Assembly signed Resolution No. 406/NQ-UBTVQH15 on promulgating some solutions to support businesses and people affected by the COVID-19 epidemic.

For Resolution No. 406/NQ-UBTVQH15 active soon, the Government has urgently issued Decree No. 92/2021/ND-CP dated October 27, 2021, guiding four groups of tax exemption and reduction solutions, including (i) Reducing corporate income tax payable in 2021 for businesses and organizations with revenue not exceeding VND 200 billion and revenue in 2021 is lower than in 2019; (ii) tax exemption (personal income tax, value-added tax, and other taxes) in the third and fourth quarters of 2021 for business households and individuals doing business activities in Vietnam districts affected by the COVID-19 epidemic in 2021; (iii) reduce value-added tax rates for goods and services in industries; (iv) Exemption of late payment interest arising in the years 2020, 2021 for enterprises and organizations that incur losses in 2020.

The Decree takes effect concurrently with the effective date of Resolution No. 406/NQ-UBTVQH15 (October 19, 2021).

The promulgation of Decree No. 92/2021/ND-CP dated October 27, 2021, to timely implement solutions specified in Resolution No. 406/NQ-UBTVQH15 will contribute to supporting businesses and people overcome difficulties caused by the impact of the COVID-19 epidemic to continue operating, contribute to the results of recovering the country's economy after the epidemic and implementing social security./.

Collected from the source