The ministry has been asked to implement reasonably loosened fiscal policy with a focus on supporting enterprises and residents to reduce input costs, stimulate production and reduce output costs, contributing to controlling inflation and promoting growth.

The government has asked the Ministry of Finance to raise tax and fee exemption and reduction policies to support enterprises.

The support policies would include the exemption and reduction of taxes and fees and land use fees following the Prime Minister’s directives and be reported to the government by mid-March.

The finance ministry should join the Ministry of Planning and Investment and relevant agencies to complete the study about the global minimum tax and report to the government within this month.

A close watch must be placed on the developments in the international markets and adjustments of fiscal, monetary, trade and investment policies of countries around the world to analyze and provide forecasts for timely policy responses.

In addition, the ministry must focus on implementing measures to remove difficulties in credit, corporate bond market, real estate market, and petrol and oil management to ensure stable, healthy, transparent and safe operation.

Regarding price management, the ministry must raise options for adjusting prices of State-managed goods and services with appropriate road-maps and careful studies of the socio-economic impacts, especially electricity, petrol and oil.

The Ministry of Finance has sent a draft about extending the tax payment deadline to the Ministry of Justice for evaluation.

It was estimated that around 64-65 trillion VND worth of value-added tax, which should have been paid in the first half of this year, would be extended. Extension of payment deadlines would also be given to 42.8-43.6 trillion VND and 272 billion VND of tax on business households.

These sums would be paid to the State before December 31, meaning the extension would not affect this year's budget revenue.

Source: VNA