Approval of the tax system reform strategy until 2030

The strategy aligns Vietnam’s tax policy with international practices to meet resource needs and achieve the ten-year socio-economic development strategy until 2030.

It will help stabilize state budget revenue from taxes and costs in conjunction with socio-economic development strategies for 2021-25 and 2026-30.

In the initial phase, support will be offered to help businesses and individuals get back to business after the negative impacts of COVID-19.

Taxpayer satisfaction with tax agencies is expected to reach at least 90% by 2025, and support for people paying their taxes electronically up to 70%.

At a tax agency (Photo: VNA)

The strategy also aims to refine regulations on value-added taxes on exports and services, and amend those on tax exemptions and refunds in a simple, transparent and concerted manner with related laws.

It will establish a roadmap on the adjustment of taxes on tobacco and alcoholic beverages and revise consumption taxes on products according to socio-economic conditions for the period 2021-30.

The strategy will seek to reduce import duties to around 25% by 2025 and 20% by 2030, from the current 32%, and design tax incentives for small and medium-sized enterprises (SMEs).

In addition, it will increase taxes on land and houses and impose taxes on sectors that harm the environment.

Source: VNA

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