Ministry proposes cutting taxes for transport firms
The Ministry of Transport has proposed the Government assign the Ministry of Finance to consider reducing several taxes for transport businesses affected by COVID-19.
Coaches at Giap Bat Bus Station in Hanoi (Photo: VNA)
Hanoi (VNA) - The Ministry of Transport has proposed the Government assignthe Ministry of Finance to consider reducing several taxes for transportbusinesses affected by COVID-19.
For the civil aviation industry, the ministry has suggested theGovernment to exempt import and environmental protection taxes on flight fuelfrom January 23 to December 31, 2020.
In case of difficulties balancing the budget, the ministryexpected the Government to cut half of these taxes and allow businesses todelay tax payments and budget contributions.
The ministry also asked for reduced or suspended payments forcorporate income, personal income and foreign contractor taxes from January 23to December 31, 2020. Businesses are expected to enjoy cuts to value-added taxon domestic transport over three years.
Last month, the ministry said the aviation sector would beheavily impacted by the COVID-19 pandemic, causing an estimated loss of about 30trillion VND (1.29 million USD).
National flag carrier Vietnam Airlines, which holds nearly 40percent of the domestic market share, recently said that it would reduce itssupply by 60 percent, causing a decrease of 50 trillion VND in revenue, or 65percent of its target.
More than 50 percent of Vietnam Airlines employees hadstopped working, while wages had been reduced.
In the maritime sector, the ministry said the number ofvessels transporting goods entering and leaving ports had decreased by 15percent in recent months. As for passenger ships from other countries to Vietnam,the number had fallen 30 percent year-on-year, and was expected to fall furtherthis month.
Meanwhile, the volume of inland waterway and freight hadfallen by 10 percent. Revenue from road logistics had fallen sharply by 40-80percent compared to the same period last year and prior to the outbreak./.
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Coaches at Giap Bat Bus Station in Hanoi (Photo: VNA) 
