If there is no early package of support policy, land rental exemption and tax reduction, businesses will face the risk of production and business stall; even closed because of the Covid-19 epidemic.
Enterprises need tax relief packages to overcome difficulties caused by epidemics – Photo: Ngoc Thang
Billions of dollars in damage
After nearly 2 months of appearance, the Covid-19 epidemic is still devastating economies. A report by the Ministry of Planning and Investment shows that the Chinese and global economy will suffer serious losses, which can be three to four times larger than the SARS epidemic, amounting to US $ 160 billion due to the greater Chinese economy. much more than the time of the SARS epidemic, accounting for about 18% of global GDP (previously about 4%).
To support the economy and businesses (China), China injected more than 240 billion USD through the acquisition contract on the banking system to create liquidity; encourage credit loans, medium and long-term loans … Especially cut taxes on goods imported from the US to ensure supply; reducing input costs such as tax deduction and exemption and reduction of land rent for businesses. Beijing and Suzhou allow late payment of social insurance, free administrative fees, and reduce state-owned rent.
Thailand also lowered interest rates from 1.25% to 1%, reduced business conditions, exempted businesses' taxes for both small and medium-sized enterprises, large-scale projects, relaxed payment terms, extended terms. Pay personal income tax from March to June.
Singapore is also preparing a financial package to deal with (expected from February 18) and has previously announced a range of measures for the tourism industry, including waiving license fees for hotels, travel agents and tour guides, investment in large-scale infrastructure projects.
Malaysia is considering launching an economic stimulus package. The Philippines cut interest rates by 0.25 percentage points to 3.75%, reducing buying rates reversed, lending rates and overnight deposits.
In South Korea, the government has also established tax support schemes such as exempting or extending tax payment deadlines. For businesses that have been suffering from disease outbreaks, such as small business households, tourism and performance, it may be extended for up to 9 months for enterprise income tax declaration and payment. increase. The sanctioning of slow taxpayers is also delayed for up to one year.
In Vietnam, according to the Ministry of Planning and Investment, all businesses are negatively affected. The loss from tourism revenue if the epidemic dragged on in the first quarter was $ 2.3 billion and by the end of the second quarter was up to $ 5 billion, exports were forecast to fall by 8.3% over the same period last year … To remove, Finance Minister Dinh Tien Dung signed Decision 155 / QD-BTC promulgating a list of goods exempt from import tax for the prevention and control of Covid-19 epidemic, including medical masks; antiseptic hand sanitizer (hand gel or liquid hand sanitizer).
Early exemption, reduction of tax and land rent
However, these solutions are just the situation, not enough “force” to remove difficulties, helping businesses to cope with the pandemic. At the recent meeting, Chairman of Lao Cai Tourism Association Hoang Van Tuyen proposed Vietnam Tourism Association to have the opinion of the Government consider the reduction and extension of tax for tourism businesses, hotels, restaurants and transportation. tourism load, to indirectly support the large workforce in the tourism industry.
The Ministry of Industry and Trade has also reported to the Government to propose the Ministry of Transport and the Ministry of Finance to join in, reviewing taxes, fees, especially road transport charges, taxes with flying fuel … to consider reducing taxes. , fees for goods circulating in the current period.
According to MPI Minister Nguyen Chi Dung, the most difficult subjects are small and medium enterprises. Therefore, it is necessary to soon have solutions and tax policies to support them, especially in the fields that are greatly affected such as logistics, retail, production, processing of agricultural, forestry and aquatic products, services and tourism.
The Ministry of Planning and Investment proposes to extend the deadline for personal income tax payment, exemption of fines for late tax payment when enterprises have fully paid, exempted or reduced import and export tax of goods directly in service of anti-epidemic work. tax deduction … exemption, reduction of land rent by the State for businesses and people affected by the epidemic during the epidemic, prolong time, delay the progress of land rental payment after the epidemic is under control; reducing land and ground rent rates for logistics and retail businesses to timely support logistics, circulation, cold storage, commodity storage, agro-forestry and aquatic product consumption, boosting and increasing domestic demand. geography during the time of the epidemic.
Mr. Vu
Source: Thanh Nien newspaper
