Regarding tax exemption and reduction on land and water surface rent cut for subjects affected by the Covid-19 pandemic in 2022, the Ministry of Finance has submitted a draft decision to the Prime Minister. Currently, Government Office is receiving opinions cabinet members about the decision. It is expected that this policy implementation would need a total capital of VND3,500 billion (US$149 million).
In addition, due to the fluctuation of gasoline prices at the beginning of the year, in order to control the price and reduce pressure on the economy, the Government has reported to the Standing Committee of the National Assembly to promulgate resolutions on reducing environmental protection taxes for petroleum products which are not subject to the US$2.6 billion package, with an expected scale of around VND32,000 billion (US$1.4 billion). In the first eight months of the year, the policy implementation is expected to cost about VND12,900 billion (US$549 million).
Regarding the rent support policy for contracted workers, the Ministry of Finance has announced to additionally allocate VND4,125 billion (US$176 million) for 20 localities to implement the policy.
Concerning tax extension policies with an expected scale of VND135,000 billion (US$176 million), by the end of August, around VND52,000 billion (US$2.2 billion) of due taxes has been extended, equaling around 38.5 percent of the plan.
Of these, the extension of tax payment deadline for the payable amount of value-added tax, corporate income tax, personal income tax, and land rental in 2022 hit VND49,100 billion (US$2.1 billion). The extension of speical consumption tax payment deadline to domestically assembled and manufactured automobiles reached about VND2,900 billion (US$123 million).
