The Ministry of Finance is shortening the procedure for approving a tax and fee support package of about 20,000 billion VND; banks also committed to reduce interest rates by more than 24,000 billion dong.
On the afternoon of August 11, the Government Office held a regular August Government press conference. This is the first meeting of the Government for the new term after consolidation.
Mr. Dao Minh Tu – Deputy Governor of the State Bank said that in the face of the difficult situation of businesses because of Covid-19, 16 commercial banks have committed to reduce interest rates for businesses depending on the degree of difficulty. It is estimated that the interest rate reduction package of these 16 banks is about VND 20,300 billion from now until the end of 2021.
In addition, 4 state-owned commercial banks including Vietcombank, VietinBank, BIDV and Agribank also committed to reduce interest rates for businesses in localities implementing social distancing under Directive 16, with 1,000 banks each. billions dong. These four big banks also pledged to reduce 100% of fees for Ho Chi Minh City and localities that are social distancing.
Thus, the total value of interest rate reduction from the bank for those affected by Covid-19 from now until the end of the year is about VND 24,300 billion.
Mr. Dao Minh Tu – Deputy Governor of the State Bank. Photo: VGP
Mr. Tu added, last year the State Bank reduced the operating interest rate, creating conditions for commercial banks to lower lending rates by 1.2-1.5%. In the first seven months of this year, the loan interest rate level also decreased by about 0.5% compared to 2020.
“Interest rate is an important policy for businesses, so the State Bank directs banks to minimize operating costs and share profits to reduce interest rates for businesses,” Tu said. , the State Bank will strengthen supervision so that the interest rate reduction of banks is substantive, supporting businesses in the current difficult context.
Along with reducing interest rates of the banking industry, the Ministry of Finance is also urgently consulting ministries and branches to finalize the tax and fee reduction support package of about VND 20,000 billion. This support package has been approved by the Government.
Mr. Nguyen Duc Chi – Deputy Finance Minister said that this tax exemption and reduction support package is expected to reduce corporate income tax for small and medium-sized business households, with a turnover of less than VND 200 billion; 50% reduction of tax payable to business households and individuals; reduce value added tax (VAT) for businesses in the fields that are heavily affected by Covid-19 such as transportation, tourism, hotel accommodation, etc. In addition, the ministry also proposes to waive late tax payment interest. , reducing the land rent payable in 2021 for all disadvantaged people.
“We are finalizing and will report to the Government and submit to the National Assembly Standing Committee in the nearest meeting, so that the policy can be implemented soon,” Mr. Chi informed.
Mr. Nguyen Duc Chi – Deputy Minister of Finance. Photo: Nhat Bac
Mr. Chi added, it is estimated that tax and fee support, extension of tax payment, land rent, etc. from 2020 to now is about VND 118,000 billion.
According to VnExpress.net
