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On April 20, the Standing Committee of the National Assembly, chaired by the Deputy Speaker, held a session to discuss draft laws amending and supplementing provisions of the Personal Income Tax Law, the Value-Added Tax Law, the Corporate Income Tax Law, and the Excise Tax Law.
The Government proposed adding rules on the excise tax rate for vehicles with engines under 24 seats that run on battery power. The proposal would extend the current policy until the end of 2030, instead of ending in May 2027 as currently in force.
The draft regulations on Personal Income Tax, Value-Added Tax, and Corporate Income Tax are proposed to take effect from January 1, 2026.
Phan Van Mai, Chair of the Economic and Financial Committee, said the Standing Committee on Economics and Finance agrees with the Government’s overall policy direction but recommends more detailed options to provide solid grounds for consideration.
On turnover thresholds for tax exemptions or relief for household businesses and small and medium enterprises, the reviewing body generally agrees with the revision direction but requested clearer specifications of the exact threshold.
The article notes that the previous turnover threshold was 100 million dong. The draft proposed raising it to 300 million dong, then to 500 million dong. However, many opinions argued that these levels remain low.
Specifically, the Small and Medium Enterprise Association proposed raising the threshold to up to 2 billion dong. The reviewing body suggested studying a minimum around 2 billion dong to ensure the policy is both “humanity” and practical.
The head of the Economic and Financial Committee emphasized that household businesses and small and medium enterprises contribute to the public budget and also play a major role in creating jobs, ensuring social welfare, and maintaining economic vitality.
In closing remarks, Deputy Speaker Nguyen Thi Hong urged the Government to fully absorb the opinions of the Standing Committee and the evaluating body to complete the draft law, then submit it to the National Assembly for timely consideration and approval.
The Economic and Financial Committee will continue finalizing its appraisal report. The General Secretary of the National Assembly will report to add the content to the legislative program to support timely consideration and approval in line with the country’s development needs in the new period.
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