The Government proposed a two-percentage-point reduction in VAT - from 10% to 8% - on goods and services currently subject to the 10% rate. This excludes certain sectors such as telecommunications, finance, banking, securities, insurance, real estate, metals, mineral products (excluding coal), and goods and services subject to special consumption tax (excluding petrol). The proposed timeframe for the reduction is from July 1, 2025 to December 31, 2026.
According to a government report, a notable improvement in the revised draft is the elimination of seven out of 24 administrative procedures, about 30%, reducing compliance costs and time to streamline business operations.
The NA Standing Committee will discuss, review, and decide on 42 groups of issues during this session, including 24 related to constitutional and legislative matters; 10 concerning socio-economic issues, the state budget, supervision, and other important matters; eight within its authority; and five others, which will be decided in writing.
Administrative units with isolated locations and limited transport connectivity with adjacent administrative units, as well as those holding special importance to national defence and security, will not be compulsorily subject to re-organisation, according to the draft resolution.
Among the most impactful laws under review are the amended Law on Special Consumption Tax and the Law on Corporate Income Tax, both poised to directly shape production, trade, and business activities nationwide.
In his closing remarks, NA Chairman Tran Thanh Man announced that the committee reached broad consensus on seven draft laws, paving the way for the NA’s ninth session in early May.
The majority of the NA Standing Committee's members agreed on the need to continue reducing the land rental fees in 2024 as proposed by the Government.
The top legislator emphasised the importance of promoting transportation-oriented urban models, creating mechanisms to effectively use land funds, developing smart and sustainable cities, establishing an inter-agency mechanism at the central and local levels to solve obstacles in the implementation of projects.
The resolution issuance is essential to clearly define the specific tasks, powers, and organisational structure of the National Assembly's bodies after the restructuring and merger process, said NA Chairman Tran Thanh Man.
The resolution, presented at the February 13 session of the NA Standing Committee, seeks to establish a legal framework that would effectively boost national scientific-technological advancement and digital transformation, making them driving forces for socio-economic development to deliver on the dual targets by 2030 and 2045 as outlined at the 13th National Party Congress.
The 15th National Assembly (NA) Standing Committee reviewed the legislature’s eighth session and discuss the preparations for the ninth session on December 11 during its 40th meeting.
A delegation of the National Assembly (NA) Standing Committee led by its member and Chairman of the NA Committee for Culture and Education Nguyen Dac Vinh paid a working visit to Belgium from December 4-7, with the aim of consolidating and deepening the bilateral friendship.
The National Assembly (NA) Standing Committee convened its 38th session on October 7, with focus on preparations for the legislature’s upcoming eighth plenum.
Continuing the agenda of its 37th session, the National Assembly Standing Committee on September 12 afternoon reviewed the 8th extraordinary meeting and preparations for the 8th session of the 15th National Assembly.
The National Assembly Standing Committee continued its 36th session in Hanoi on August 22 with a Q&A session focusing on justice, internal affairs, public security, social safety, inspection, courts, and the procuracy.
Prime Minister Pham Minh Chinh on July 30 chaired a national conference on the implementation of a number of laws and resolutions of the 15th National Assembly.
