Many textile and garment manufacturing enterprises have been severely affected by the COVID-19 epidemic that need to be “energized” to overcome difficulties – Photo: QUANG DINH
Meanwhile, talking with Tuoi Tre, many experts believe that it is necessary to continue to have policies on tax exemption and reduction, reducing interest rates, extending loan repayment time … so that businesses and people can endure and maintain operations. production and business activities in a difficult period affected by the prolonged epidemic COVID-19.
“Continuing administrative reform, modernizing, cutting administrative procedures, business conditions, building e-government to serve people and businesses. What causes troubles, complications for people and businesses, we should remove and facilitate production.
Prime Minister Nguyen Xuan Phuc
Tax and fee reductions to support enterprise
Outlining outstanding results of the financial sector in 2020, Prime Minister Nguyen Xuan Phuc said that the financial sector has excellently performed the financial and state budget tasks in the difficult context of the COVID-19 pandemic, advise to promulgate many mechanisms and policies to effectively respond to COVID-19, overcome natural disasters, stabilize production and business, promote disbursement of public investment capital, support the economy.
The financial industry has implemented many flexible fiscal policy solutions such as exemption, reduction, tax extension, fees and charges, land rental with nearly 124,000 billion VND, timely support for businesses and business households to overcome difficulties. towels caused by the COVID-19 pandemic.
Commenting that the situation is still complicated and risky for the economy in 2021, the Prime Minister asked the financial sector to continue to realize the dual goal of both controlling the epidemic and ensuring economic development. health.
Specifically, continue to improve financial institutions and laws, determined to strive to achieve the highest level of socio-economic goals, state budget estimates to stabilize the macro-economy, control inflation, and state budget structure, public debt, safe and sustainable development of the national budget.
“In addition to the task of revenue and expenditure and state budget management, the financial sector must contribute to arousing and releasing many resources of the country. With that in mind, the industry should actively coordinate at all levels and localities to ensure a smooth, safe lifeline of the economy, creating favorable foundations and conditions to promote socio-economic development ”, Prime Minister stressed.
Workers on the yarn production line at Phong Phu Corporation, HCMC – Photo: QUANG DINH
Also under the direction of the Prime Minister, the Ministry of Finance should review, amend and supplement legal provisions, mechanisms and policies in the field of budget finance to create an open business and investment environment. profit.
Talking with Tuoi Tre, Deputy Minister of Planning and Investment Tran Quoc Phuong said that he was closely monitoring the epidemic situation and changes in production and business activities to be ready to submit solutions to support businesses and people to competent authorities. people affected by the epidemic.
“The spirit will have both short-term support policies to report to the Government to submit to the National Assembly for consideration, in order to timely support production and business activities” – Mr. Phuong said.
Meanwhile, according to the Minister of Finance Dinh Tien Dung, one of the tasks that the finance sector will focus on this year is to continue to research and amend policies on taxes, fees and charges in accordance with practical situation to support people and businesses, workers lost their jobs, income due to COVID-19 epidemic …
Without timely support, production activities in many businesses will be delayed, workers’ lives will be affected – Photo of TVN
So businesses don’t “sit on the fire”
Also related to the story of business support, at a meeting in Ho Chi Minh City at the end of January 7, Deputy Governor of the State Bank Dao Minh Tu said that Circular 01 (on the restructuring of debt payment term interest exemption and reduction and keeping debt group intact …) is a solution to support businesses and people to overcome difficulties caused by COVID-19 epidemic. However, at the time of this circular construction, no one thought the translation would last that long.
According to Mr. Tu, difficulties in trade make businesses still face many difficulties and need support to recover. Even in this year’s direction, the State Bank also considers supporting businesses to overcome difficulties caused by COVID-19 as one of the goals that must be focused on.
“Therefore, the amendment of Circular 01 is also in the direction of continuing to support businesses and people to get loans, creating conditions for businesses to recover quickly. But besides that, it must also pay attention to the financial safety of credit institutions, even in the short term as well as the safety and soundness of the national finances in the medium term ”- Mr. Tu affirmed.
Therefore, according to Mr. Tu, Circular 01 will be appropriately identified in the interest structure of debts, time, time, and subjects. In which, specifying provisions to ensure safety for credit institutions but also ensuring that these provisions are consistent with the financial capacity of the credit institutions.
Previously, many businesses said that they were “sitting on a fire” because the consultation deadline was long, but the State Bank’s circular amending Circular 01 has not yet been issued. If the circular is not issued in time, enterprises are worried that they will be listed on the “black list” of overdue debts, and will not be able to continue borrowing. Meanwhile, banks are also worried that profits will drop sharply if they have to make provisions.
Ms. Nguyen Thi Khanh (President of Ho Chi Minh City Tourism Association):
VAT reduction, debt rescheduling enterprise travel
Ms. Nguyen Thi Khanh
The tourism industry is in a difficult period, we continue to recommend supporting tax exemption or reduction for travel businesses, restaurant businesses, accommodation establishments, and transportation business travel services. In addition to supporting policies and policies, creating conditions for businesses to develop new products, the support package needs to solve the current shortcomings for businesses to expand their way to develop tourism and gradually restore the tourism industry.
Although the Government has issued a resolution to reduce 30% of corporate income tax from June 19, 2020, due to the impact of the COVID-19 epidemic, most small and medium enterprises cannot have revenue or generate profits. Therefore, reducing corporate income tax has almost no effect on tourism businesses.
Therefore, we propose to consider supporting a 50% reduction in land rent of accommodation establishments for two years 2021-2022. Support application of electricity price according to the electricity-generated unit price for restaurants and tourist accommodation services in 2021. Consider reducing VAT from 10% to 5% in 2021.
We also expect the banking industry to extend the repayment of due debts for businesses and not let tourism businesses fall into the bad debt group, support loan repayment, and at the same time allow businesses to re-borrow interest-free deposits. The new support package should consider having a policy and time to pay interest from banks, not including overdue loans. Continue to restructure debts, reduce loan repayment time …
Mr. Jean-Jacques Bouflet (Vice President of EuroCham):
Support with a long-term vision
Mr. Jean-Jacques Bouflet
Vietnam has strengthened the business environment and modernized the legal framework, creating positive changes since the Vietnam – EU Free Trade Agreement (EVFTA) was implemented. The challenge in the future is to ensure that the implementation of the agreement will run smoothly and effectively.
In the impact of the COVID-19 epidemic, European businesses also face many difficulties in expanding their markets, but the agreement is signed with a long-term vision not only this year or next year but also offers a 20-year vision. again.
However, the effect of COVID-19 is only short-term, the support packages will be good for businesses now, but we need to look at the long-term as the business needs a clear and favorable environment.
For example, promoting electronic licensing, reducing exposure, applying technology to improve administrative procedures … will help businesses reduce costs a lot. Businesses need to know the conditions to enjoy tariffs, quality standards to easily export to Europe, or understand the rules to achieve preferential conditions.
We want businesses to make better use of the benefits achieved by the EVFTA Agreement, actively cooperate with regulatory agencies to realize that, especially in the early stage, when the agreement is just available. The effect is still much of a surprise for businesses to grasp.
N. Binh recorded
According to Youth
