What are the viewpoints regarding tax policy reform in tax reform strategy until 2030 in Vietnam?

What are the viewpoints regarding tax policy reform in tax reform strategy until 2030 in Vietnam?

Pursuant to Section I.1, Article 1 of the Decision 508/QD-TTg in 2022 stipulating viewpoints regarding tax policy reform in tax reform strategy until 2030 in Vietnam as follows:

1. Viewpoints

a) Taxes, fees and charges serve as tools that help the State manage, regulate and stabilize macro-economy, restructure the economy, and mobilize resources to ensure significant, efficient, fast and sustainable economic growth; balance economic development and environmental issues against the goals and requirements of the 10-year socio-economic development strategy for the 2021-2030 period;

b) Build a perfect and synchronous tax policy system with restructured state-budget revenues with the intention of ensuring sustainability and contribution to improving the investment and business environment towards broadening tax base; rationally pooling resources into the state budget with a view to ensuring consistency, fairness and neutrality in tax policies; ensuring that tax policies are simple, transparent, clear, comprehensible and easy to apply. Tax policies are presented in legislative documents on tax only; are perfected and revised in order to ensure consistency in terms of legal value among tax-related laws and relevant legislative documents;

c) Tax regulatory framework continues to be perfected in order to help to streamline administrative procedures and boost use of information technology to reduce costs of compliance with tax legislation of the public and enterprises; concurrently, formulate legal bases for constructing Vietnamese tax authorities that are modern, professionally operated, effective, efficient, upright and fully qualified in order to carry out and duly take control of objectives and requirements of tax reforms.

What are general objectives regarding tax policy reform in tax reform strategy until 2030 in Vietnam? 

Pursuant to Section I.2, Article 1 of the Decision 508/QD-TTg in 2022 stipulating general objectives regarding tax policy reform in tax reform strategy until 2030 in Vietnam as follows:

2. General objectives

Continue to perfect tax policies and restructure state budget revenues with a view to covering all of revenues, expanding tax collection basis, especially the basis for new tax collections, and conforming to international conventions; ensuring that the proportion of domestic tax collections and the proportion of indirect taxes to direct taxes are at a reasonable level; making sure that taxes, fees and charges imposed on property, natural resources, and environmental protection are properly exploited; minimizing the integration of social policies into tax legislation and tax exemption or reduction policies in order to ensure neutrality in tax policies, strive for a synchronous tax system with a sustainable structure, ensure proper resources are mobilized to feed the state budget, and at the same time; contribute to creating a favorable and fair investment and business environment, encouraging investment, promoting competition, regulating income reasonably and in line with the process of integration and development of the economy.

Build a modern, streamlined, efficient and effective tax system of Vietnam; unified, transparent, intensive and professional management of taxes, fees and charges by utilizing the method of risk management, boosting information technology application, simplifying administrative procedures, reducing compliance costs of the public and businesses as taxpayers; at the same time, centering tax administration on the electronic tax platform and three basic pillars, including a complete, synchronous, modern and integrated regulatory framework for tax administration; professional, upright and innovative personnel; modern and compatible information technology meeting tax administration requirements in the digital economy context.

Best regards!