Vietnamese Government’s actions to support business during the COVID-19 crisis

Vietnamese Government’s actions to support business during the COVID-19 crisis

March 26, 2020

Stock services will be discounted, support the market before Covid-19 translation

Discount 4 types of service prices on derivatives market at VSD

In the face of the increasingly complicated situation of the Covid-19 epidemic, in order to have timely policy solutions assist market members and investors to deal with the impact of the disease, the State Securities Committee has reached agreement with the Stock Exchange, Vietnam Securities Depository (VSD), and has submitted to the Ministry of Finance’s leaders for permission to adjust some types of service prices related to the stock market.

SSC Chairman Tran Van Dung said that the Ministry of Finance has agreed on the policy of reducing the price of some securities services as proposed by the SSC. Accordingly, in the immediate future, there will be reduction in 4 types of service prices on the derivative stock market at VSD.

“In order to provide timely support to the market and investors, the drafting and promulgation of revised Circular on discount securities services this time will follow summary procedure. Therefore, Circular will be issued as soon as possible, probably this week and will take effect from the date of signing. ” – President Tran Van Dung emphasized.

It is known that other types of service prices in the market will continue to be reviewed by the SSC and consulted with the Ministry of Finance when necessary.

Support from Government for Transport sector.

With the proposal of reducing BOT fees from transport associations, the Ministry of Transport said that BOT enterprises had a lot of difficulties when they had to reduce fees for some types of vehicles and had not yet increased fees as expected in the contracts. The project is under the direction of the Government in Resolution No. 35 / NQ-CP dated May 16, 2016. The Ministry of Transport proposed transport enterprises to share difficulties with BOT businesses. With the proposal of associations, to reduce transportation costs, the Ministry will continue to study and report to the competent authorities for consideration, reduce the fees managed by the State as well as support the policy mechanism for the applications. transport business units, bus stations to reduce taxes, fees, charges on the bus station.

More than 30 trillion dong of tax and land lease will be extended to minimize the impact of Covid-19

In order for businesses and individuals to have more financial resources to maintain and restore production in the context of adversely affected by the Covid-19 epidemic, the Ministry of Finance has just drafted a decree on extending the tax payment deadline. and land rent with the total proposed extension of more than VND 30 trillion.

According to the draft decree, businesses, organizations, households and individuals subject to the extension must send a written request for the extension of tax payment and land rent for the taxes and land rents to be extended to the Tax administration will be conducted by May 31, 2020.

3 groups of subjects eligible for tax payment and land rent extension:

Firstly, enterprises, organizations, individuals, groups of individuals, households and production activities in economic sectors: Agriculture, forestry and fishery; Manufacturing and processing food; Weaving; Producing costumes; Producing shoes; Producing products from rubber; Producing electronic products, computers; Manufacturing and assembling cars (except for manufacturing and assembling cars with 09 seats or less).

Second, businesses, organizations, individuals, groups of individuals, households doing business in the following sectors: Railway transport; Trucking; Water transport; Air transport; Warehousing and support activities for transportation; Accommodation services, catering services; Activities of travel agents, tour operators and support services related to tourism promotion and organization.

Thirdly, small and micro enterprises. Basis for determining the criteria for small and micro enterprises is information on capital and turnover in the financial statements or the number of employees paying insurance premiums as of December 31, 2019 for enterprises established before 01 / 01/2020 or information on capital and labor on enterprise registration documents for enterprises established in 2020.


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