- The voters of Thua Thien Hue province in Vietnam have proposed that the Ministry of Finance study and recommend the issuance of tax incentive mechanisms and policies to encourage investors to expand production and promote economic and social development.
- The proposed amendment to the Value Added Tax (VAT) Law, Special Consumption Tax Law, and Tax Administration Law includes provisions on VAT refunds for businesses that have not fully deducted input VAT in the month or quarter, and for businesses with new investment projects that have not yet deducted VAT on goods and services used for investment.
- However, the current laws do not provide incentives for expanding investment projects, which hinders investors from expanding production and business.
- The Ministry of Finance has acknowledged the issues related to the non-refund of VAT for investment projects and has included them in the proposed amendment to the VAT Law.
- The government has issued Resolution No. 115/NQ-CP, which includes the proposed amendment to the VAT Law, including provisions on VAT refunds for investment projects according to investment laws, both for new projects and expansion projects.
Source: baochinhphu.vn
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
