The Government's resolution requires the Ministry of Finance to urgently implement policies on the extension and reduction of taxes, fees, charges and land rents after being promulgated by authorities.

Many solutions have been launched to help cut costs and remove financial
difficulties for businesses. Photo: H.Dịu

This is one of the solutions to help cut costs and remove financial difficulties and cash flow issues for businesses, cooperatives and business households in Resolution No. 105/NQ-CP dated September 9, 2021 of the Government on supporting businesses, cooperatives and business households in the context of the Covid-19 pandemic.

Along with that, the Government requests the Ministry of Finance implement a preferential tariff policy for imports to serve pandemic prevention and control after being approved by the Government.

The Ministry of Finance also needs to consider, study and submit to the Government and the Prime Minister to extend the deadline for paying excise tax on domestically manufactured and assembled cars until the end of 2021, as well as study and assess the impact to consider reducing the registration fee for domestically manufactured and assembled cars over time to match with the pandemic situation.

The Ministry of Natural Resources and Environment was also assigned to work with the Ministry of Finance and the Ministry of Justice in reporting to the Government on the extension deadline of payment for granting mineral mining rights for firms, cooperatives, business households that are exploiting minerals in accordance with the law on tax administration in September 2021.

The Government directed the Ministry of Industry and Trade to work with the Ministry of Finance and relevant agencies on organising the implementation of Resolution No. 97/NQ-CP dated August 28, 2021 of the Government on the plan of supporting to reduce electricity bill and electricity price (phase 5) for customers using electricity.

The resolution also requires that the State Bank (SBV) encourage credit institutions to cut costs to continue reducing lending interest rates for existing and new loans to support production and business.

In September, the State Bank should work with ministries and agencies to consider and make decision based on their competence or request competent authorities to decide on credit support mechanisms to help airlines to settle liquidity, ensure resources to maintain and develop.

The Ministry of Labour, War Invalids and Social Affairs directs and instructs Vietnam Social Insurance to research and make a proposal for the exemption from fines for late payment of social insurance arising in 2020 and 2021 in accordance with regulations. It should be completed this month.

The Government directs the Ministry of Transport in September 2021 to consider and decide on the policy of service price relating to aviation activities to support airlines during Covid-19 pandemic.

Shipping lines are requested to publicly and transparently list shipping rates; strengthen State management measures for shipping lines, avoid taking advantage of Covid-19 pandemic to increase freight rates unreasonably, increase the cost burden for firms, cooperatives and business households.

At the same time, Ministry of Transport works with the Ministry of Industry and Trade, relevant associations and other units to improve negotiation capacity, publicity and transparency on freight rates and surcharges of sea freight service.

The Ministry of Culture, Sports and Tourism works with the Ministry of Justice and other ministries and agencies to allow travel businesses and service providers to receive an 80% reduction in deposit for travel trade by the end of 2023, reduce time for settlement of deposit refunds for travel trade business from 60 days to 30 days.

The Government also proposed the Vietnam General Confederation of Labour consider exempting trade union fees for union members at businesses and cooperatives affected by the Covid-19 pandemic in 2021 and 2022 so that employees can overcome difficulties and accompany with enterprises, cooperatives and business households.