160 businesses participate in dialogue on tax exemption and reduction conditions

Chairing the conference from Nghe An bridge point were representatives of the leaders of VCCI Nghe An Branch, the Provincial Tax Department, and the Provincial Business Associations.Attending the conference from the Song Lam II Tax Branch bridge in Hung Nguyen town (Hung Nguyen) were representatives of the Song Lam II Tax Branch leadership.

Nearly 160 businesses and individual business households in the area participated in the dialogue forum.

Representatives of the Tax Department, VCCI Nghe An Branch and Business Associations, Provincial Travel Association attended the dialogue at the VCCI Nghe An bridge (Vinh City). Photo: Nguyen Hai

At the dialogue conference, representativesVCCI Nghe Ansaid that in the new normal context, there are many new regulations, including documents of the National Assembly, the Government, instructions of the Ministry of Finance and the General Department of Taxation on tax exemptions and reductions as well asbusiness supporthaving difficulties due to Covid-19.

Especially, in the context that the end of the year is the time for tax settlement and the Tax industry also has many new regulations on tax violation penalties, so businesses need more support.

Ms. Dao Thi Kim Hoa - Deputy Director in charge of VCCI Nghe An Branch gave an opening speech, clearly stating the purpose and significance of opening a tax dialogue conference. Photo: Nguyen Hai

At the conference, representatives of the Provincial Tax Department disseminated Resolution No. 406/NQ-UB TVQH15 dated December 19, 2020 of the 15th National Assembly Standing Committee on a number of solutions to support businesses and people affected by the Covid-19 epidemic.

Based on the introduction of information content, representativeNghe An Tax Departmentalso note businesses about the necessary and sufficient conditions to enjoy the regulations ontax exemption, reduction and supportOther businesses affected by Covid-19 must have reasonable and valid invoice recording time to be supported and not be fined. The condition of revenue or the business must be real loss or the period of no income must be in accordance with the provisions of the National Assembly Resolution determining exemption or reduction of VAT or income tax to be supported; businesses can temporarily calculate revenue or income to calculate tax but must comply with regulations.

Mr. Ha Le Dung - Deputy Director of Nghe An Tax Department spoke to note some contents when writing invoices to enjoy tax exemption and reduction policies according to Resolution 406/NQ. Photo: Nguyen Hai

In the spirit of open and frank dialogue, representatives of the Provincial Tax Department answered many questions related to the application of Resolution 406 and detailed instructions related to tax exemption and reduction due to Covid-19.

The Standing Committee of the 15th National Assembly resolved to reduce 30% of the corporate income tax payable in 2021 for taxpayers under the provisions of the Law on Corporate Income Tax with revenue in 2021 not exceeding VND 200 billion and revenue in 2021 decreasing compared to revenue in 2019. Exemption of personal income tax, value added tax and other taxes payable arising from production and business activities in the months in the third and fourth quarters of 2021 for households and individuals with production and business activities in district-level areas affected by the Covid-19 epidemic in 2021. Reduction of value added tax from November 1, 2021 to December 31, 2021 for goods and services; Exemption of late payment fees arising in 2020 and 2021 for tax debts, land use fees, land rents for enterprises and organizations (including dependent units and business locations) that incurred losses in 2020.

(Resolution No. 406/NQ-UBTVQH, XVth tenure, dated December 19, 2020)

Also within the framework of the dialogue, businesses were also guided by lecturers from the Faculty of Accounting, Vinh University on some accounting adjustments in accordance with the policy to support businesses affected by the Covid-19 pandemic. /.