Tax and land-use fee reductions should continue in 2023: MoF
The Ministry of Finance (MoF) said tax support policies and land-use fee reductions for businesses should be continued throughout 2023 despite shortfalls in state budget collection.
The Ministry of Finance's main office in downtown Hanoi. (Photo: VNA)
Hanoi (VNS/VNA) - The Ministry of Finance (MoF) saidtax support policies and land-use fee reductions for businesses should becontinued throughout 2023 despite shortfalls in state budget collection.
However, the ministry's proposal did not include a value-added tax(VAT) reduction of 2%, which it said has been challenging and complicated toimplement.
In the MoF's latest proposal to the government, businesses,household businesses and individuals were to continue to enjoy a 30% cut inland-use fees in 2023, on top of an extension on their tax duties.
"The ministry supports the government's policy to givebusinesses more time to meet their financial duties and a 30 % reduction inland-use fees as parts of an effort to support businesses," Minister ofFinance Ho Duc Phoc said.
Phoc said key priorities for the government this year includespeeding up the disbursement of public investment projects, injecting cash intothe economy and helping improve businesses' performance.
"Improved performance will help reduce the unemployment rate,boost budget collection and solves various socio-economic related issues,"he added.
A series of measures, including VAT slashed from 10% to 8% andreduction of land-use fees, worth a total of 223 trillion VND last year, havereceived positive feedback from the business community and boostedeconomic recovery after the pandemic.
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The Ministry of Finance's main office in downtown Hanoi. (Photo: VNA) 
