NA seeks balanced tax laws

National Assembly deputies agreed yesterday that changes made to the Law on Import and Export Tax need to be calculated based on harmonisation to the benefit of people, enterprises and the Government.

Workers process catfish for export (Photo: SGGP)

If the law failed to do so, it would not only fail in boosting production, but also hinder the country's development, said Ksor Phuoc, chairman of the National Assembly Council of Ethnic Affairs.

All deputies agreed that it was necessary to amend the law because it appeared to have many regulations that were not in line with the development of society. This included individuals who are not subjected to taxation, the taxation framework, taxation rates and taxation timetable.

Deputies agreed that changes are needed to create a synchronised legal framework to promote production, as well as to ensure proper protection for domestic products in line with the integration process.

Some deputies said regulations in the amended law pertaining to subjects of taxation and subjects free from taxation might not be able to sufficiently cover real scenarios. Officials suggested that the Government conduct a review of these matters and make adjustments as needed.

NA Chairman Nguyen Sinh Hung expressed his concerns over the impacts the amended law would have on agriculture, forestry, fishery and ancillary industries.

Phan Trung Ly, head of the NA's Law Committee, said the drafting committee needed to ensure that the amended law reflects the 2013 Constitution's spirit, which stated that the National Assembly is charged with making basic decisions on national monetary and financial policies, as well as adjusting or eliminating taxes.

Truong Thi Mai, head of the Social Affairs Committee, proposed that the drafting committee conduct a thorough evaluation of the amended law's impacts on society. She said consumers would benefit from lowered import taxes, but industries such as husbandry would face considerable challenges if this policy is enacted.

"It's of crucial importance that a more thorough evaluation be carried out, and the Government needs to show what measures they have taken to tackle arising problems," Mai said.

Surplus capital

Also yesterday, the deputies discussed a plan to use surplus capital from Government bonds after finishing projects on upgrading National Highway 1A and Ho Chi Minh Highway through the Central Highlands (Tay Nguyen) region based on a Government report No 348/BC-CP dated July 17 this year.

They highly appreciated the Government's and Ministry of Transport's processes on technical quality standards and expenditure control which have helped save a lot of money on many projects.

However, the deputies said a vast capital surplus proportion, more than 20 per cent, between planned and used capital sources from the Government bonds also proved that estimated expenditure and its examination had not been effective to meet the actual demands.

They said the Government should draw lessons from such experience and suggested it should prepare more documents which show the urgency of surplus capital usage and should report to the National Assembly at its coming session next month.

They requested the NA's Budget and Finance Committee to carefully examine such reports ensuring their transparency.

Source: VNS

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