To submit to the National Assembly for approval the amended Law on Value Added Tax in October 2024

To submit to the National Assembly for approval the amended Law on Value Added Tax in October 2024 (Internet image)

Regarding this issue, LawNet would like to answer as follows:

On December 18, 2023, the National Assembly Standing Committee passed Resolution 41/2023/UBTVQH15, adjusting the Program on Formation of Law and Ordinance for 2024 in Vietnam.

To submit to the National Assembly for approval the amended Law on Value Added Tax in October 2024

Resolution 41/2023/UBTVQH15 amends the Program on Formation of Law and Ordinance for 2024 in Vietnam as follows:

Add the following bills to the Program on Formation of Law and Ordinance for 2024 in Vietnam with basic policies as proposed by the Government:

- Submit to the National Assembly for comments at the 7th session (May 2024) and approve at the 8th session (October 2024) the following projects:

+ Law on Management and Use of Weapons, Explosives, and Support Tools (amended).

If the prepared Law project is of good quality and the discussion process at the National Assembly reaches high consensus, the National Assembly Standing Committee will consider and coordinate with the Government to submit it to the National Assembly for approval at the 7th session. (May 2024), according to the procedure at a meeting;

+ Law on Prevention and Combat of Human Trafficking (amended);

+ Law on Value Added Tax (amended);

- Submitted to the National Assembly for comments at the 8th session (October 2024): Project on Law on Chemicals (amended).

According to the Program on Formation of Law and Ordinance for 2024 in Vietnam, the revised Law on Value Added Tax will be submitted to the National Assembly for comments at the 7th session (May 2024) and approved at the 8th session (October 2024).

The submitting agencies and agencies to be in charge of verifying and participating in verifying law projects added to the Program on Formation of Law and Ordinance for 2024 in Vietnam

To assign the submitting agency and the agency in charge of verifying and participating in the verification of law projects added to the Program on Formation of Law and Ordinance for 2024 in Vietnam as follows:

At the same time, under Resolution 41/2023/UBTVQH15, the Government is assigned the following tasks:

Preside over drafting and researching, receiving opinions from the National Assembly Standing Committee and verification opinions from National Assembly agencies to urgently prepare dossiers of law projects to ensure quality and progress.

During the drafting process, if policies are adjusted or supplemented compared to the proposed policies, the full impact must be assessed according to the provisions of the Law on Promulgation of Legal Documents.

Continue to direct the review, speed up the preparation progress, and urgently prepare proposals to develop tax law projects, improve the business investment environment, and other necessary law projects to submit to the National Assembly for consideration and a decision to include it in the Law and Ordinance Development Program.

More details can be found in Resolution 41/2023/UBTVQH15, taking effect on December 18, 2023.

Nguyen Ngoc Que Anh

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