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  • News
  • COVID-19
  • 28 July 2021

The Government reduced 3,000 billion VND of taxes and fees to remove difficulties for businesses due to Covid-19

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The Ministry of Finance has just issued Circular No. 47/2021/TT-BTC regulating the collection of many fees to support and remove difficulties for those affected by the COVID-19 epidemic. Thus, 30 fees with many high reductions will support businesses and people to overcome difficulties.

The fee and fee reduction period will be applied from July 1, 2021, to the end of December 31, 2021, with the reduction in fees in 6 months estimated at VND 1,000 billion. The reduction in fees and charges in 2020 and the first six months of 2021 from the above circulars is estimated at VND 2,000 billion. Thus, after the application of Circular 47, accumulated by the end of 2021, the reduction in fees will be about 3,000 billion VND.

In 2020, before the impact of the COVID-19 epidemic, the Ministry of Finance actively and actively coordinated with ministries and ministerial-level agencies to review and issue 21 circulars to reduce many fees.

By the end of 2020, the domestic COVID-19 epidemic is basically under control. However, production and business activities are still facing many difficulties and need time to recover and develop. Therefore, the Ministry of Finance reported to the Prime Minister for permission to continue reviewing to reduce fees and charges in 2021.

The world economy forecast in 2021 will continue to be severely impacted by Covid-19. Many industries and fields in the country face difficulties. Production and business activities of enterprises have stalled, especially businesses in tourism, aviation, and transportation.

This Circular follows Circular No. 112/2020/TT-BTC to further extend the 29 types of fees and charges that have been reduced in the first six months of 2021. At the same time, it additionally reduces the collection rate of a fee in the agricultural field sector.

According to the Ministry of Finance, in the coming time, to continue to support businesses and people to overcome difficulties and promote production and business development, the Ministry of Finance is continuing to closely monitor the actual situation to study the development and implementation of subsequent support solutions.

With the determination to accompany businesses, along with the development and implementation of the above policy solutions, the Ministry of Finance will continue to promote institutional improvement, improve the effectiveness and efficiency of the Ministry of Finance machinery, reform administrative procedures, and promote comprehensive modernization of all fields of the financial sector. In particular, significantly reforming taxation and customs, which are considered closely related and directly related to businesses, contribute to creating a healthy business investment environment, facilitating favorable conditions for the business to operate stably and develop. 

(Source: baochinhphu)