The draft closely follows and institutionalizes the Party's guidelines on corporate income tax and non-agricultural land use tax incentives for domestic educational institutions, aiming to foster breakthrough development in education and training under Politburo Resolution No.71-NQ/TW, improve school and public health under Politburo Resolution No.72-NQ/TW, and align with financial and land tax policies under Resolution No.21-NQ/TW on viewpoints and orientations for amending the Land Law and related legislation, issued at the third session of the 14th Party Central Committee.
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Le Hong Phong Secondary School in Ha Long ward, Quang Ninh city |
In particular, the bill amends and supplements Clause 5, Article 15 of the Law on Corporate Income Tax. It provisions that public science and technology organizations, public educational institutions, and non-profit private educational institutions shall be exempt from tax in accordance with government regulations.
The draft law incorporates provisions on corporate and personal income tax exemptions for income generated from providing catering services for educational institutions and medical establishments, cases of non-agricultural land use tax exemption for educational institutions, and non-agricultural land use tax exemption for ethnic minorities.
It also introduces tax rates for land left vacant, unused, or delayed in being put into use. Accordingly, such land shall be subject to a tax rate of 0.2%, with no limit applied.
Legislators are also set to discuss the draft amended Law on Bidding, which consists of eight chapters and 59 articles.
It amends and supplements numerous provisions to ensure the feasibility and consistency of the legal framework on bidding, enhance the quality and efficiency of bidding activities, simplify procedures to shorten project implementation timelines, and promote decentralization and the delegation of authority in contractor and investor selection.
The draft amended Law on Marine and Island Resources and Environment, and the draft law amending and supplementing some articles of the Law on Environmental Protection will also come under discussion during the day.
Source: VNA