MOF offers tax sops for prioritised institutions and individuals

According to Ministry of Finance (MoF), by July it has carried out some tax policies supporting institutions and individuals.

About value added tax (VAT), the MoF has extended the amount of tax in April, May and June, 2012 for about 208,250 enterprises worth nearly 10 trillion dong.

With corporate income tax, about 8,260 enterprises have been extended with 347.5 billion dong.

Reducing 50 percent land leasing money in 2012, the MoF has supported 3,153 enterprises in production, business and services sectors with total 339 billion dong.

About 40,223 fishing and salt producing households have been exempted or refunded business license tax (for the ones who have completed tax payment) with total 10.6 billion dong.

In addition, MoF also cooperated with the Ministry of Planning and Investment (MoPI) to advance 30 trillion dong of basic construction capital and G-bonds in 2013 for urgent projects expected to accomplish in 2012, 2013. MoF also proposed prime minister to add 50 billion dong for Ministry of Industry and Trade (MoIT) to boost trading supporting the market.

According to general Department of Taxation (GDT)’s report, the number of newly formed enterprises in the first 7 months was 46,818, of which non-state enterprise number was 42,349. The number of enterprises which posted to earn pre tax profit increased by 2.5 percent compared with Q1/2012, of which State enterprise sector rose by 5.8 percent in comparison with Q1/2012.

 

Category: Economy