In addition to options on taxes, charges and expenses, the monetary trade additionally applies options for state funds expenditure and various different options to help tourism to beat difficulties attributable to Covid-19.
Editor’s Word: As a significant occasion of the tourism trade, the Vietnam Tourism Conference 2021 was profitable with many opinions exchanged and assessed the influence of the Covid-19 epidemic on the tourism trade, alternatives and challenges posed to tourism. Vietnam calendar within the “post-Covid” interval.
Taking place in 1 day, along with the change of concepts and discussions on the Conference, there are additionally many beneficial opinions and views acquired by many consultants, scientists, researchers, managers, associations. associations, tourism companies despatched to.
In the next, we want to introduce to readers the subject “Vietnam’s tourism recovery and development” is a set of statements, discussions, articles within the convention paperwork by the content material editors of the group. The National Assembly’s Committee on Culture and Education shall coordinate with the Ministry of Culture, Sports and Tourism to implement it.
Here is the article”FINANCIAL, TAX AND CUSTOMS POLICIES TO PROMOTE TOURISM DEVELOPMENT IN THE NEW SITUATION” belong to Ms. Vu Thi Mai – Deputy Minister of Finance.
FINANCIAL, TAX AND CUSTOMS POLICIES TO PROMOTE TOURISM DEVELOPMENT IN THE NEW SITUATION
Vu Thi Mai – Deputy Minister of Finance
From the start of 2020 till now, the COVID-19 epidemic has damaged out strongly and complicatedly on a world scale, inflicting important impacts on the socio-economic circumstances of nations on the planet normally and Vietnam. South particularly. In Vietnam, the COVID-19 epidemic has negatively impacted most industries and fields. A variety of industries and fields had been strongly affected (together with the tourism trade).
GDP development within the third quarter of 2021 decreased to an unprecedented depth (-6.17%). Enterprise’s manufacturing is stalled; provide chain is damaged; Labor, employment, and folks’s lives face many difficulties, affecting the macro stability and the implementation of socio-economic growth targets in 2021 and the five-year interval from 2021 to 2025. According to the World Bank’s forecast, Vietnam’s GDP in 2021 is estimated at about 2-2.5%. The world outbreak of COVID-19 has pushed the tourism trade into an unprecedented disaster, inflicting a 73.9% lower in worldwide vacationer arrivals in comparison with 2019, it took 2.5 to 4 years to get there. development momentum as in 2019 (in line with the report of the World Tourism Organization – UNWTO). The Organization for Economic Co-operation and Development (OECD) predicts that tourism would be the final sector of the financial system to recuperate misplaced demand after the COVID-19 epidemic is introduced beneath management.
From the very starting of the COVID-19 epidemic in Vietnam, the Ministry of Finance has intently monitored precise developments, collected and researched options utilized in lots of nations world wide, to suggest options to the pandemic. Government options, alter fiscal coverage consistent with financial circumstances.
Implementing the coverage of the Party, the National Assembly, the Government has submitted studies to the Standing Committee of the National Assembly and the National Assembly, on that foundation, the Government and the Prime Minister have directed the ministries, branches and localities to implementing many options to understand the “dual” aim: each epidemic prevention and management, financial growth, and assurance of individuals’s lives, during which, specializing in pressing options to stop and management the COVID-19 epidemic, set the the aim of defending folks’s well being is paramount; actively analysis, report back to competent authorities for promulgation and promulgate in line with their competence state funds – monetary insurance policies in 2020 and 2021 as a way to help and take away difficulties for enterprises. together with companies working within the discipline of tourism) and folks to deal with the epidemic, preserve and regularly restore manufacturing and enterprise.
1. Measures have been applied to help industries and fields negatively affected by the COVID-19 epidemic, together with the tourism trade.
1.1. Solutions for taxes, charges and expenses
As for the group of help options for taxes, charges, expenses and land lease, in 2020, the Ministry of Finance has submitted to competent authorities and promulgated many help options in line with its authority on extending the time restrict for cost of taxes. taxes (similar to worth added tax (VAT), company earnings tax (CIT), private earnings tax (PIT), excise tax) and land lease; exemption and discount of taxes (similar to company earnings tax, private earnings tax, import tax, environmental safety tax), charges, expenses and land lease. The whole worth of help is about 129 trillion VND, of which: the quantity to be prolonged is about 97.5 trillion VND; the quantity to be exempted or diminished is about 31.5 trillion VND.
In the previous time of 2021, the deadline for tax cost (VAT, CIT, PIT) and land lease has been prolonged for these going through difficulties as a result of influence of the COVID-19 epidemic; lowering environmental safety tax on jet gas to help the aviation trade; calculate deductible bills when figuring out taxable earnings for help and sponsorship bills of enterprises and organizations for COVID-19 prevention and management actions; cut back the gathering of greater than 30 forms of charges and expenses till the top of December 31, 2021. It is predicted that the whole worth of help will likely be about 118 trillion VND, of which: the quantity to be prolonged is about 115 trillion VND; the quantity to be exempted or diminished is over 3 trillion VND.
Recently, within the face of the extraordinarily difficult state of affairs of the 4th outbreak of COVID-19 epidemic, which has been and continues to significantly and closely have an effect on the actions of companies and folks, the Government has assigned the Ministry of Finance to: Finance actively follows the precise state of affairs to analysis, consider and develop some options on tax exemption and discount as a way to proceed to help companies and folks. Submit to the Government to undergo the National Assembly Standing Committee for approval in Resolution No. 406/NQ-UBTVQH15 dated October 19, 2021, which prescribes 04 options on tax exemption and discount; The quantity of tax exempted or diminished for companies and folks in line with the above options is estimated at almost 20 trillion VND. Specifically:
a) Solution to increase the deadline for paying tax and land lease in 2020 (in line with Decree No. 41/2020/ND-CP dated April 8, 2020 of the Government on extending the deadline for tax and land lease cost) . Accordingly: Enterprises, organizations, households and people doing enterprise within the following industries: (i) Accommodation and catering companies; well being and social help actions; (ii) Service actions, labor and employment; actions of travel businesses, tour companies and help companies, associated to the promotion and group of excursions; (iii) Creative, creative and leisure actions; actions of libraries, archives, museums and different cultural actions; sports activities and leisure actions; movie screening actions are entitled to an extension of tax cost deadlines for VAT, CIT, PIT and land lease.
b) Solution on extending the deadline for cost of VAT, CIT, PIT and land lease in 2021 (in line with Decree No. 52/2021/ND-CP dated April 19, 2021 of the Government on extension of time restrict) deadline for cost of VAT, CIT, PIT and land lease in 2021). Accordingly, companies, organizations, households, and people doing enterprise within the industries laid out in Decree No. 41/2020/ND-CP proceed to be allowed to increase the deadline for paying VAT. CIT, PIT and land lease in 2021.
c) Solutions on tax exemption and discount (in line with Resolution No. 406/NQ-UBTVQH15 on various options to help companies and folks affected by the COVID-19 epidemic) Accordingly:
– Exemption from private earnings tax, VAT and different payable taxes arising from manufacturing and enterprise actions of the months within the third and fourth quarters of 2021 for households and people having manufacturing and enterprise actions in Vietnam. District-level areas affected by the COVID-19 epidemic in 2021 shall be determined by the Chairman of the People’s Committees of the provinces and centrally-run cities.
– Reduced VAT from November 1, 2021 to the top of December 31, 2021 for lodging companies, catering companies, and companies of travel brokers; tour enterprise and help companies, associated to the promotion and group of excursions.
– Exemption of late cost curiosity arising in 2020 and 2021 of tax money owed, land use levy and land lease for enterprises and organizations (together with dependent items, enterprise places) loss in 2020.
d) Solution on charges and expenses beneath the promulgation authority of the Ministry of Finance: The Ministry of Finance has issued various Circulars regulating the discount of charges and expenses within the discipline of tourism similar to: 50% discount of the tax charge. price for evaluation of worldwide travel service enterprise license, home travel service enterprise license; Fees for evaluation and issuance of vacationer information playing cards. The price discount interval is from May 5, 2020 to the top of December 31, 2021.
At the identical time, cut back associated charges and expenses to help tourism actions similar to: Road utilization charges; charges for utilizing railway infrastructure; charges, expenses within the discipline of aviation, …
1.2. Solutions on state funds spending
In order to help workers and employers going through difficulties as a result of COVID-19 epidemic, the Government has issued Resolutions No. 68/NQ-CP dated July 1, 2021 and Resolution No. 126/NQ-CP day…