NA to look into draft resolution on tax cuts, vote on two draft laws
The National Assembly (NA) is discussing a draft resolution on corporate income tax reduction and voting on the draft revised youth law and the draft law on mediation and dialogue at court on June 16.
Minister of Finance Dinh Tien Dung (standing) speaks at the plenary sitting on June 15 (Photo: VNA)
Hanoi (VNA) – The National Assembly (NA) isdiscussing a draft resolution on corporate income tax reduction and voting onthe draft revised youth law and the draft law on mediation and dialogue atcourt on June 16.
This is part of the ongoing ninth session of the14th-tenure parliament in Hanoi.
The morning plenum focuses on the draftresolution on reducing corporate income tax that businesses, cooperatives,non-business units and other organisations have to pay in 2020.
Minister of Finance Dinh Tien Dung said thecomplex and unpredictable COVID-19 developments are forecast to affect a numberof sectors, especially small-sized enterprises. Therefore, an NA resolution oncorporation income tax cuts is necessary for small firms to overcomedifficulties, thus helping to achieve as highest economic growth as possible.
Under this draft, businesses with total revenuenot higher than 50 billion VND (nearly 2.17 million USD) and not over 100employees covered by social insurance in 2020 will benefit from a reduction of30 percent in the corporate income tax they have to pay this year.
If this proposal is approved, State budgetrevenue will drop about 15.84 trillion VND. If the tax cut is expanded tomedium-sized firms, the revenue may decline by about 22.44 trillion VND.
Following the plenary debate on this draft,legislators are set to have group discussions on the draft Vietnam borderdefence law.
In the afternoon, deputies will vote on thedraft revised youth law and the draft law on mediation and dialogue at court.
After that, they will scrutinise the draftrevised law on residence./.
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A number of legislators gave their opinion on measures for post-COVID-19 economic recovery on June 15, with the reopening of Vietnam’s borders to foreign partners being among the issues attracting the most attention.
Minister of Finance Dinh Tien Dung verified some issues regarding socio-economic development and State budget during the ninth session of the 14th National Assembly on June 15.
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Long spoke highly of the dynamic, positive, and comprehensive development of Vietnam – Russia relations in recent years. He affirmed that the Vietnamese Party and State place great importance on further strengthening the comprehensive strategic partnership with Russia in a substantive and effective manner, in line with the development needs of both nations.
At the conference, participants reported that the Government has so far issued 28 decrees on the delegation of responsibilities and powers between the central Government and two-tier local administrations. Several localities have already piloted the new governance model.
Reality is the ultimate benchmark for success, he said, urging drafting agencies to work out policies that foster development, reduce bureaucratic hurdles, and respect practical conditions.
Under the official dispatch signed on June 20, ministers, heads of ministerial-level agencies, and chairpersons of provincial and municipal People’s Committees are requested to concentrate efforts on implementing core measures to ensure the smooth operations of the new administrative framework.
The Party chief underscored the need for the press to innovate relentlessly, evolve to keep pace with the country's development, transform into a truly professional, humanistic, and modern sector that serves the cause of the Party, the State, and the people on the path to national construction and development.
The UN Secretary-General praised Vietnam’s remarkable achievements in socio-economic development and international integration in recent years, noting that the country has emerged as a model in implementing the Sustainable Development Goals (SDGs), promoting international peace and security, and engaging in key UN processes.
Nghia affirmed that this is a milestone of special significance, affirming and honouring the the Vietnamese revolutionary press’s glorious tradition of 100 years of serving the revolutionary cause of the Party, serving the Fatherland, and serving the people.
The Party and State of Vietnam always attach great importance to and give top priority to the development of Vietnam–China relations. Vietnam is ready to work with the Chinese Party and State to further deepen the Comprehensive Strategic Cooperative Partnership and promote the building of the Vietnam-China community with a shared future that carries strategic significance.
Under the leadership of President Ho Chi Minh and the CPV, President Cuong said, the press has been a steadfast force on the ideological and cultural front, rallying the masses to pursue national aspirations.
NA Chairman Tran Thanh Man stressed the need to accelerate the application of artificial intelligence and smart teaching equipment, innovate teaching and assessment methods, and further improve the quality of formal education.
He also pledged that the NA will promote its ongoing supervision, making sure that every promise must lead to results, and every commitment must bring about real changes.
Minister of Industry and Trade Nguyen Hong Dien welcomed the proposals put forward by the US side and reiterated Vietnam’s request for consideration of key areas of interest, including reciprocal tariff policies and access for Vietnamese key export products to the US market.
Deputy PM Le Thanh Long proposed countries promote shared values, including building trust, sincerity, and solidarity among nations and peoples; fostering cooperation spirit and responsible behaviour as well as upholding international law and the UN Charter; and placing people at the centre and as the goal, the key player, and the driving force of all policies.
The show, together with a grand parade to be held silmutaneously at Ba Dinh Square in Hanoi, will celebrate the 80th anniversary of the August Revolution, the National Day, and the General Staff of the Vietnam People’s Army (VPA).
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The Vietnamese Embassy in Israel is closely coordinating with relevant local agencies to stay informed and provide the utmost support possible for Vietnamese nationals.
The launch of Thanh Nien (Young People) newspaper in 1925, even before the founding of the Communist Party of Vietnam, is considered a testament to President Ho Chi Minh’s strategic foresight and strong belief in the guiding power of the revolutionary media.
Minister of Finance Dinh Tien Dung (standing) speaks at the plenary sitting on June 15 (Photo: VNA) 
