In two 19 - 20/6, the National Assembly approved the Law on amending and supplementing a number of articles of the Law on Corporate Income Tax Law amending and supplementing a number of articles of the Law on VAT increase and the Law amending Article 170 of the Law on Enterprises.
That is the law amended, supplemented with a direct impact to the business (DN) and is considered as one of the measures to support businesses, stimulate the economy that the government proposal. Accordingly, the regulations have effect from seventh to.
Since 2014, income tax rate is 22% and 20% from 2016
Along with economic growth, fluctuations in the price index, the minimum tax amount to be refunded is 200 million unsuitable. However, 500 million as of the draft will make it difficult for businesses because they can not refund. Thus, the Law amending and supplementing a number of articles of the Law on Value Added Tax (VAT) has been adopted, with effect from 01.01.2014, the threshold is 300 million tax refund.
On the output VAT for the sale, lease, lease purchase housing, social housing, the tax rate is 5%, applicable from 07.01.2013. With commercial houses have a floor area less than 70 m2, priced below 15 million m2, the tax rate is 10%, but was down 50% from 07/01/2013 to 30/06/2014. According to government reports, the inventory is over 10,000 apartments, 50% reduction in the VAT rate would help solve the housing difficulties of low-income people, are in need of space at the same time will help reduce the inventory of apartments, contributing to overcome the difficult part for the real estate market.
Items ore to produce fertilizer is kept current tax rate of 5% for the development of agriculture and rural areas. At the same time, additional parts which can not be produced to be imported for direct use for scientific research activities are not subject to tax.
Some content, such as tax registration threshold of 1 billion, water supply services are not exempt from tax and be taxed 5%, 25 groups of goods are not subject to tax ... is the same as the draft.
The Corporate Income Tax: tax cuts, raise the ceiling ad
Corporate income tax (CIT), since 01/01/2014, the general tax rate is 22% and 20% from 01/01/2016. Chairman of the Finance Committee - Congressional Budget Phung Quoc Hien said that the tariffs applied two popular that in 2014 this will reduce revenues approximately 22,200 billion in 2016 decreased by 21190-21580 billion . If the income tax rate decreased as the opinion of a number of delegates will be a big impact on the budget balance. Besides, compared with the rate of the countries in the region and the world, the general tax rate 22% in the period 2014-2015 and the rate of 20% of Vietnam from 2016 is consistent, secure ensuring competitiveness in attracting investment.
Regarding advertising costs, marketing, promotion, many participants said that should give advertisers the control current ceiling of 10% on the total cost, some other comments suggest 15% of the total revenue instead of the total cost as a draft. However, the Law amending and supplementing regulations controlling the advertising ceiling is 15% of the total cost.
Regulations controlling the loan rate on equity (thin capital) has been excluded from the Law amending and supplementing. Earlier, the draft regulations, interest costs on loans with loan corresponds exceed 5 times the equity, for credit institutions (CIs) are 12 times the costs are not eligible unless the tax. According to the National Assembly Standing Committee, the additional capital requirement is currently no real thin line with the policy objective is to modify support, facilitate businesses. In addition, the recovery of loans and loans under the authority and responsibility of the banks. During the evaluation process, the credit system was based on specific criteria, such as collateral, the feasibility and effectiveness of the project ... to decide on borrowing for businesses.
Law amending and supplementing a number of articles of the Law on Income Tax with effect from 1.1.2014, own regulations on 10% tax rate on incomes of enterprises from investment projects implementation - Business social housing is made from 07/01/2013.
Business Law: FDI enterprises will not have to register to be
According to the Law on amendments and supplements to the Law 170 firms, FDI enterprises established before 1/7/2006 are selected one of two ways: re-register to continue operating under the Enterprise Law or register. For FDI enterprises has expired recording activity in the investment license, but can not perform the actual companies and is still active, it is registered to. Deadline for registration is on 02/01/2014. The registration has effect from the expiration date on the license active investor to recognize the legal status of the transaction to ensure that legitimate businesses have made. If the end of that period, companies do not perform, they must re-register the dissolution or termination of activities.
Spill advertising costs: Road is long and far
Law amending and supplementing a number of articles of the Law on Corporate Income Tax has not spill the cost of advertising, promotion expectations of the company, which raised the ceiling from 10% to 15%. Ms. Dinh Thi My Loan, Chairman Vietnam Retailers Association said the ads cost ceiling specified with a history of over 10 years, during that time, especially in recent times, the business community, the industry associations should constantly lifted petition.
"This is the first time that regulation may be appropriate, but with the current situation, when we have integration, the market has changed, there is no reason to maintain a provision has exist more than 10 years, "she said Loan.
Indeed, studies, surveys and abroad indicate unreasonable restrictions in the investment initiative, branding restrictions, especially Vietnam brand to enhance competitiveness in the market domestic and international markets. Verification Report of the Finance and Budget Committee also pointed out that, in the world outside of Vietnam only 2 rules to keep this country is China and other countries. According to Taiwan, China's regulations were "soft" more flexible than the prescribed 15% of total revenue, not total cost. In addition, a number of consumer goods, beverages, cosmetics, pharmaceuticals are applied to 30% and if unused carried forward to subsequent years.
Loan said that current regulations are working hard to enterprises, especially when retail businesses to implement policies promotions, daily, weekly discounts. Regarding transfer pricing concerns, to take advantage of increased regulation costs, according to Loan, we need not be too concerned by the machine and have the legal tools to handle.
Regarding income tax enterprises, Ms. Nguyen Thi Cuc, Chairman of the Tax Advice, former Deputy Director of the General Department of Taxation seen, the reduction did not meet expectations of the company. DN to further reduce taxes, but where they also have deep harmonic calculations and the interests of the State enterprises.
"There should be shared between businesses and government. With the current rate, 2014, budget revenues fell more than 22,000 billion. This is the government's share, because the budget has to account for companies and businesses will not have to borrow from banks 22.000 billion in service production - business, "said Cuc.
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