Notice 2298/TB-TTKQH 2023 conclusion on projects under the National Assembly's Resolution on VAT reduction

NOTICE

On the conclusion of the National Assembly Standing Committee on projects under the National Assembly's Resolution on reduction of value-added tax

(At the 23^rd session held on May 2023)

On the morning of May 13, 2023, the National Assembly Standing Committee considered, commended on projects under the National Assembly's Resolution on reduction of value-added tax (VAT) and gave the following conclusions:

1. The National Assembly Standing Committee agreed to add projects under the National Assembly's Resolution on VAT reduction into the Program of the 5^th Session for submission to the National Assembly for consideration and decision according to the shortened procedures, and include them in the content of the General Resolution of the National Assembly session. At the same time, the Government was requested to seriously learn from experience to ensure compliance with the prescribed time of submission of dossiers.

2. The National Assembly Standing Committee agreed with the scope of application of the VAT reduction policy as specified in the National Assembly's Resolution No. 43/2022/QH15 dated January 11, 2022, on fiscal and monetary policies in support of the socio-economic recovery and development program. This Resolution is applied from July 1, 2023, to December 31, 2023. The Government shall be responsible for organizing the prompt implementation, ensuring not to reduce the state budget revenues and the state budget balance within the 2023 state budget overspending approved by the National Assembly.

3. The Government was requested to receive the National Assembly Standing Committee’s comments, the National Assembly Finance and Budget Committee's appraisal opinions to complete VAT reduction dossiers, and send them to the National Assembly's agencies for appraisal according to regulations for the latter to submit to the National Assembly; additionally provide contents on the summarization and review of the process of implementing the VAT reduction policy in 2022, the impact of the VAT reduction on economic growth, consumer demand stimulation, and state budget revenue.

The Secretary General of the National Assembly hereby informs agencies and organizations for implementation./.