Hanoi (VNA) - The Ministry of Finance (MoF) hascontinued to submit to competent authorities and promulgate according to itsauthority policies on exemption, reduction and extension of taxes, fees andcharges in the spirit of accompanying businesses and people to overcomedifficulties to recover and develop the economy.

In accordance to its authority, the MoF has issued a circularregulating the reduction of 35 fees and charges in the fields of securities,healthcare, citizen identification and appraisal of construction investmentprojects.

The application period is from July 1 to December 31 this yearwith the amount in question expected to reduce State budget revenue by about 700billion VND (29.2 million USD).

Recently, in order to promptly remove difficulties and obstacles,promote resources, improve the economy's ability to access and absorb creditcapital, promote growth associated with maintaining macroeconomic stability,striving to achieve the highest goals and targets of the socio-economicdevelopment plan and State budget as set out this year, Prime Minister PhamMinh Chinh has issued Official Telegram 990/CD -TTg dated October 21 oncontinuing to drastically implement solutions to increase access to creditcapital, remove difficulties for production and business activities, andperform state budget collection tasks this year.

Accordingly, the Prime Minister requested the MoF to proactivelypropose solutions for exemption, reduction and extension of taxes, fees andcharges next year, and submit them to competent authorities for timelyconsideration and decision.

In addition, drastic solutions are needed to help State budgetrevenue this year exceed the estimate assigned by the National Assembly.

The MoF has proposed financial policy solutions to promoteaggregate domestic consumption demand.

Specifically, the MoF has researched and proposed a number ofsolutions to reduce taxes, fees and charges for next year, such as continuingthe 2% reduction in value added tax and considering reducing the environmentalprotection tax rate for gasoline and oil as applied this year.

At the same time, it will continue to review and reduce export andimport tax rates to support domestic production and business; and reduce thecollection of some fees and charges.

Regarding budget revenue this year, the ministry said that budgetrevenue had reached 85% by October 30, equivalent to 1.36 quadrillion VND.

In the last months of the year, the MoF will continue to implementsolutions, from electronic invoice issues to building tax data centres andcross-border electronic information portals./.