At a recent meeting between Prime Minister Pham Minh Chinh and the Ministry of Planning and Investment (MPI), the ministry's Minister Nguyen Chi Dung stated that, as requested by the government, the MPI is continuing to formulate new policies and solutions to assist people and businesses vulnerable to Covid-19. Such policies will be submitted to the government this month.

Amid massive difficulties, many enterprises in Vietnam are in dire need of support.

The MPI is now also building up a governmental resolution on supporting and developing enteprises for the 2021-2025 period, while also formulating pilot mechanisms for innovations and startups, in which all enterprises are encouraged to invest in innovation, while a governmental fund on adventure investment will also be created to support innovation activities of enterprises.

In the context of the complex, unpredictable evolvement of the Covid-19 pandemic globally, which has caused worldwide supply chain disruption and a negative impact on almost every economic sector, the government has implemented and is going to implement several measures to ease the financial burden on impacted taxpayers.

On April 19, the government issued Decree No.52/2021/ND-CP on the extension of time limits for the payment of VAT, corporate income tax (CIT), personal income tax, and land rental in 2021. This decree took effect immediately.

Specifically, Decree 52 extends the time limits for payment of the payable VAT amounts for the tax periods of March-August 2021 (if making monthly VAT declarations), and the tax periods of first and second quarters of 2021 (in the case of quarterly VAT declarations) of enterprises and organisations.

The extension is five months for the VAT amount of the tax periods of March-June 2020, and the tax periods of first and second quarters of 2021; four months for the VAT amount of the tax period of July 2021; and three months for the VAT amount of the tax period of August 2021.

The Ministry of Finance (MoF) said Decree 52 is necessary as it will help firms and individuals have more financial resources to maintain and recover their production and business activities, contributing to helping the country achieve its economic growth of an expected 6.5% this year.

On the 31 March 2021, the government also issued Decree No.44/2021/ND-CP allowing enterprises claim a CIT deduction for support expenses and donations for the protection against and prevention of the Covid-19 pandemic in Vietnam.

In addition, the Ministry of Finance is also mulling over other solutions to support enterprises.

Currently it has decided to reduce environmental protection tax on aircraft fuel by a total of VND900 billion (US$39.1 million), and reduce the collection of some fees worth VND1 trillion (US$43.47 million). The Ministry of Labour, Invalids, and Social Affairs is also reviewing the implementation of a VND62 trillion (US$2.7 billion) package launched one year ago to support 20 million poor and unemployed people.

The package comprised of a VND16 trillion (US$695.65 million) sum aimed at providing loans to businesses at a 0% rate in order to help them pay salaries for employees.

Last September, the government also promulgated Decree No.109/2020/ND-CP providing an extension on time limits for excise tax payments for domestically manufactured or assembled cars.

Decree 109 extended the time limits for payment of the payable excise tax amount incurred in the tax period March-October 2020 for domestically manufactured or assembled automobiles.

Record new business registrations signal recovery

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War veteran and wounded soldier Nguyen Duc Duc, bright model in doing business and charity work

(BGO) – In spite of old age, the veteran and wounded soldier in Vietnam war against America Nguyen Duc Duc (born in 1950) still keeps working. He helps his children operate a large scale company specialized at trading Tien Phong plastic pipe, water and power equipment. He often drives his car on business trip, social and charity journeys. 

Permanent Vice Chairman of provincial People's Committee Mai Son: Taking people and businesses as the center of digital transformation

(BGO) - Digital transformation is an inevitable trend, opening up many opportunities and strongly impacting all areas of socio-economic life, but also posing numerous challenges. Realizing that, Bac Giang province has identified the advantages and disadvantages, put forth solutions, and been determined to take the lead in this process. Permanent Vice Chairman of the provincial People's Committee Mai Son gave an interview to Bac Giang Newspaper regarding this issue.

National Quality Awards 2019-2020 bestowed on 116 businesses

The Vietnam National Quality Awards 2019-2020 were presented at a ceremony in Hanoi on April 25, honouring 116 companies with remarkable achievements in improving the quality of products and services, competitiveness, operational efficiency, and regional and international economic integration.

Source: NDO