Deputy Minister of Finance Vu Thi Mai speaks at the conference. Photo: Thuy Linh

Building a series of policies to support businesses

According to Deputy Minister of Finance Vu Thi Mai, in recent years, under the close guidance of the Government, the Ministry of Finance has always actively researched and proposed policies and solutions to support businesses and people to overcome difficulties due to the Covid-19 pandemic, including solutions on taxes, fees, charges and land rent, which have been appreciated by the business community.

From the beginning of 2021, realizing challenges that people and businesses have faced amid the Covid-19 pandemic, the Ministry of Finance has submitted to the competent authorities to issue and extend support solutions on taxes, fees, charges and land rent with an estimated value of VND118 trillion, of which: deferred taxes (including value-added tax, corporate income tax, personal income tax) and land rent are about VND115 trillion; the exempted and reduced taxes (green tax and import tax), fees and charges are about VND3 trillion.

Mrs. Vu Thi Mai also said the 4th outbreak of the Covid-19 pandemic has been seriously affecting operations of businesses and people, the Ministry of Finance has urgently submitted to the Prime Minister for promulgation many policies on tax and fee exemption and reduction, etc. Solutions on taxes, fees, charges and land rents which have been applied in 2021 will help businesses and people with an amount of nearly VND140 trillion.

In addition, the Ministry of Finance has also worked with ministries and government agencies to develop policies to directly support pandemic-hit employees and people.

The Ministry of Finance has submitted to the Government to submit to the National Assembly Standing Committee to allocate VND14.62 trillion from the savings sources and the remaining funds of the central budget in 2020 for pandemic prevention and control. By the end of October, 2021, the State spent VND35.27 trillion for pandemic prevention and used support funds to help employees and employers.

In the context that state budget revenues are greatly affected, while the state budget still has to ensure spending for regular activities, ensure capital for development investment and especially increased demand for spending on social security and disease prevention and control, which has created challenges for the state budget balance, the development of the above support solutions shows the determination of the State, the Government and the Ministry of Finance in accompanying and supporting businesses, said Deputy Minister Vu Thi Mai.

Expanding administrative procedure reforms

Deputy Minister Vu Thi Mai said despite facing many difficulties in 2021, the state budget revenue in the first eleven months of 2021 was estimated at VND1,389 trillion, up 3.4% over the estimate, and 8.9% year-on-year.

Revenue from taxes and fees has become more and more sustainable and ensured development investment and social security and defense. The leader of the Ministry of Finance affirmed that the above results have been greatly contributed by the business community, who has made great efforts and determination to respond and implement solutions of socio-economic development of the Party, National Assembly and Government.

The Ministry of Finance has been focusing on perfecting institutions, reforming administrative procedures, and modernization to create favorable conditions for businesses. From 2014, the Ministry of Finance has always been in the top three ministries on the PAR Index announced by the Government's Steering Committee for Administrative Reform.

The Ministry of Finance has also always paid attention to quickly offering solutions to those who are in need of help transparently and publicly, minimizing administrative procedures and creating the most favorable conditions for businesses and people.

In the tax field, the Ministry of Finance has been expanding the electronic tax system with the following services: electronic tax declaration, electronic tax payment, electronic tax refund, electronic invoices with more than 99.6% of total enterprises participating in electronic tax declaration; 98.9% electronic tax payment; and 97.6% electronic tax refund.

The official launching of the Electronic Invoice System in six cities and provinces (including Hanoi, Ho Chi Minh City, Binh Dinh, Quang Ninh, Hai Phong and Phu Tho) and planned launch of this system in 57 remaining cities and provinces is significant in transforming to electronic invoices, thereby saving costs for businesses and society.

In the field of customs, the Ministry of Finance has promoted the National Single Window, the ASEAN Single Window; managed, supervised and ensured the running of the VNACCS/VCIS automatic customs clearance system and safe, secure and centralized information technology systems with smooth communication lines, contributing to fast customs clearance in a modern, simple and convenient manner, reducing costs for people and businesses.

Furthermore, facing complicated developments of the Covid-19 pandemic, the Ministry of Finance has issued many measures to expedite customs clearance of goods; handling goods stuck at border gates; ensuring the safety of officers and smooth customs clearance.

Deputy Minister of Finance Vu Thi Mai affirmed that the Covid-19 pandemic has been developing in a complicated and unpredictable manner, causing many difficulties for production and business activities of enterprises. In the foreseeable future, the Ministry of Finance will continue to closely monitor developments and the actual situation, review and evaluate the effectiveness of issued policies to advise and report to competent authorities for appropriate support solutions.

At the same time, the ministry will work with the Ministry of Planning and Investment and other ministries and agencies to research and report to the Government and Prime Minister on the program of economic recovery and development, and submit it to competent authorities to create a premise to develop subsequent support solutions.

"The Ministry of Finance will also expand reform in all aspects: perfecting institutions, improving the effectiveness and efficiency of the apparatus, reforming administrative procedures towards a more comprehensive and effective manner, strengthening modernization in all areas of the financial industry, especially in the fields of taxation and customs to help business and people and reduce costs for them in order to improve the business climate and competitiveness," said the Deputy Minister.

The Deputy Minister affirmed, at this conference, as well as in the future, the Ministry of Finance will listen to and answer questions of businesses and look forward to continuing to receive many straightforward and constructive contributions of the business community on Vietnam's tax and customs policies and procedures to help taxpayers to implement tax policies sufficiently, quickly and conveniently, contributing to promoting investment and exports and complying with international practices and commitments in the process of regional and global economic integration of Vietnam.