PM agrees to abolish business registration tax

Tuesday, Oct 07, 2014 15:41

PM has agreed to lift business registration tax. –Photo

HA NOI (Biz Hub) – Prime Minister Nguyen Tan Dung has approved the Finance Ministry's proposals to amend some articles in the tax laws to facilitate the operation of enterprises during hard times.

The MoF has proposed to waive the 5% value added tax (VAT) on animal feed produced in the industrial production chain in order to encourage animal husbandry and aquaculture.

The ministry has also suggested that the business registration tax should be abolished, and that the people's right to select the mode of payment of personal income tax, when it involves trading of shares and property, should be legalised.

The PM has asked the MoF to prepare a report on the proposals for the National Assembly (NA) Standing Committee, so that it can be examined by the NA. – VNS

Comments (0)