Concluding the September regular meeting this morning, October 3rd, the head of the government requested the Ministry of Finance to urgently submit to the Government a decree to immediately reduce income tax by 30% for businesses and household businesses with annual revenue not exceeding 10 billion VND. Focus should also be placed on researching and simplifying tax management processes and procedures related to public investment.
Prime Minister Le Minh Hung requested the immediate submission of a decree reducing corporate income tax by 30%.
PHOTO: VGP
Previously, at the first extraordinary session of the 16th National Assembly in August, the National Assembly passed Resolution 43/2026 reducing corporate income tax for the tax periods of 2026 and 2027 for business households and enterprises with revenue not exceeding 10 billion VND.
According to Minister of Finance Ngo Van Tuan, it is expected that approximately 2.69 million business households and more than 865,000 enterprises with revenue under 10 billion VND will receive a 30% reduction in personal income tax and corporate income tax.
At the meeting, the Prime Minister also requested the Ministry of Finance to take the lead in a comprehensive assessment of the operations of businesses, promptly resolving difficulties and obstacles, and strengthening business confidence. Particular attention should be paid to the contents that need to be institutionalized (procedures for entering and exiting the market; methods of tax declaration and payment; removing bottlenecks in capital, credit, land, market, and compliance costs, etc.) in the Law on Small and Medium-Sized Enterprise Development to be submitted to the National Assembly at its 2nd session.
"Yellow light" signals alarm for localities experiencing slow growth.
Prime Minister Le Minh Hung emphasized that to achieve double-digit growth, GDP growth in the fourth quarter must be above 12.5%. This is a huge pressure and a very heavy task, requiring ministries, sectors, and localities to be determined and make the utmost effort.
Accordingly, the goal is to disburse 100% of the public investment plan, complete key projects on schedule in 2026, and resolve long-standing backlogs. Local authorities are encouraged to actively participate in providing feedback on the draft government decree, proposing tasks and solutions for developing special economic zones as stipulated in the Law on Urban Development.
Strictly control prices and strive to maintain the inflation target for 2026 approved by the National Assembly. Ensure the supply of essential goods such as gasoline, electricity, food, construction materials, and medicine.
In particular, localities should review and fully identify the driving forces and potential areas that can still be exploited, especially industries, sectors, and projects that have the potential to create added value.
Large-scale economic growth centers such as Ho Chi Minh City, Hanoi, Hai Phong, Quang Ninh, Dong Nai, Bac Ninh, etc., must strive harder, more aggressively exploit their growth potential with immediate solutions, and play a leading and influential role in contributing more to national growth.
For localities where growth is still below the annual target, it is necessary to carefully assess the growth potential, immediately implement strong, decisive, specific, and effective solutions, and strive to achieve the target at the highest possible level.
The Prime Minister stated that the third quarter had given a "yellow light" to some localities that showed no progress in certain areas, and the year-end results would be the most accurate basis for evaluating, assigning, and rotating officials.
The Prime Minister also instructed the Ministry of Interior to review and finalize regulations on organizational structure at the grassroots level; coordinate with ministries, agencies, and localities to finalize proposals on staffing levels for the political system to be submitted to competent authorities, as well as mechanisms on salaries, allowances, decentralization, and delegation of power…
Source: https://thanhnien.vn/ho-kinh-doanh-doanh-thu-duoi-10-ti-sap-duoc-giam-30-thue-185261003154300234.htm
