NA endorses 10% preferential tax rate for all press agencies
To affirm the Party and State’s commitment to supporting the press, the NA Standing Committee has adopted the government’s proposal to apply a uniform preferential corporate tax rate of 10% to all types of press. This move aligns with the current tax incentives for print newspapers.
Phan Van Mai, Chairman of the National Assembly’s Committee for Economic and Financial Affairs, delivers a report presenting explanations, feedback, and revisions to the amended draft Law on Corporate Income Tax. (Photo: VNA)
Hanoi (VNA)🥀 - As part of its 9th session, the National Assembly on May 12 reviewed and debated the amended draft Law on Corporate Income Tax, focusing on proposals to streamline tax policies across various sectors, including the press and digital technology.
To affirm the Party and State’s commitment to supporting the press, the NA Standing Committee has adopted the government’s proposal to apply a uniform preferential corporate tax rate of 10% to all types of press. This move aligns with the current tax incentives for print newspapers.
In the realm of digital technology, adjustments were made to Article 12, Clause 2 of the draft law to ensure coherence with the provisions outlined in the draft Digital Technology Industry Law. These changes aim to ensure balanced and appropriate tax incentives across technology-related industries.
Regarding small and medium-sized enterprises (SMEs), the proposed tax rates of 15% and 17% remain consistent with the current policies targeting businesses operating in economically disadvantaged areas or in sectors encouraged for investment. These rates are deemed appropriate for micro and small enterprises and are intended to prevent overly broad application of tax breaks, which could reduce the effectiveness of incentive programmes.
According to Phan Van Mai, Chairman of the NA’s Committee for Economic and Financial Affairs, SMEs that also meet location- or sector-specific incentive criteria will be eligible for even more favourable tax rates as stipulated in the draft law.
Regarding the tax rate for the press, delegate Thach Phuoc Binh of Tra Vinh province stressed that the press sector is currently facing a significant decline in revenue, particularly in advertising, due to fierce competition from digital platforms. Therefore, including the press in the category eligible for preferential tax treatment will help alleviate financial pressure and enable media agencies to continue fulfilling their political and social responsibilities.
The taxation of public service units also sparked discussions. Delegate Hoang Van Cuong of Hanoi argued that taxing autonomous public hospitals and schools, currently taxed at 2% on revenue, is inconsistent with the government’s policy of waiving tuition and medical fees. He suggested these units should be exempt from corporate income tax, except for income from joint ventures.
Delegate Nguyen Lan Hieu of Binh Dinh province stated that tax authorities currently interpret any revenue labeled as "service" as taxable. As a result, most income from autonomous public hospitals is subject to corporate income tax, despite its nature as public service revenue.
In response to these concerns, NA Vice Chairman Nguyen Duc Hai requested the Ministry of Finance, which is leading the drafting process, to revise and clarify the relevant tax provisions for public service units in the next draft./.
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The sub-committee has begun preparing initial drafts of key congress documents, including a political report, a review report of the NA’s Party Committee in the 2020-2025 tenure, a congress resolution, and an action programme for implementing the resolution, Man noted.
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Long spoke highly of the dynamic, positive, and comprehensive development of Vietnam – Russia relations in recent years. He affirmed that the Vietnamese Party and State place great importance on further strengthening the comprehensive strategic partnership with Russia in a substantive and effective manner, in line with the development needs of both nations.
At the conference, participants reported that the Government has so far issued 28 decrees on the delegation of responsibilities and powers between the central Government and two-tier local administrations. Several localities have already piloted the new governance model.
Reality is the ultimate benchmark for success, he said, urging drafting agencies to work out policies that foster development, reduce bureaucratic hurdles, and respect practical conditions.
Under the official dispatch signed on June 20, ministers, heads of ministerial-level agencies, and chairpersons of provincial and municipal People’s Committees are requested to concentrate efforts on implementing core measures to ensure the smooth operations of the new administrative framework.
The Party chief underscored the need for the press to innovate relentlessly, evolve to keep pace with the country's development, transform into a truly professional, humanistic, and modern sector that serves the cause of the Party, the State, and the people on the path to national construction and development.
The UN Secretary-General praised Vietnam’s remarkable achievements in socio-economic development and international integration in recent years, noting that the country has emerged as a model in implementing the Sustainable Development Goals (SDGs), promoting international peace and security, and engaging in key UN processes.
Nghia affirmed that this is a milestone of special significance, affirming and honouring the the Vietnamese revolutionary press’s glorious tradition of 100 years of serving the revolutionary cause of the Party, serving the Fatherland, and serving the people.
The Party and State of Vietnam always attach great importance to and give top priority to the development of Vietnam–China relations. Vietnam is ready to work with the Chinese Party and State to further deepen the Comprehensive Strategic Cooperative Partnership and promote the building of the Vietnam-China community with a shared future that carries strategic significance.
Under the leadership of President Ho Chi Minh and the CPV, President Cuong said, the press has been a steadfast force on the ideological and cultural front, rallying the masses to pursue national aspirations.
NA Chairman Tran Thanh Man stressed the need to accelerate the application of artificial intelligence and smart teaching equipment, innovate teaching and assessment methods, and further improve the quality of formal education.
He also pledged that the NA will promote its ongoing supervision, making sure that every promise must lead to results, and every commitment must bring about real changes.
Minister of Industry and Trade Nguyen Hong Dien welcomed the proposals put forward by the US side and reiterated Vietnam’s request for consideration of key areas of interest, including reciprocal tariff policies and access for Vietnamese key export products to the US market.
Deputy PM Le Thanh Long proposed countries promote shared values, including building trust, sincerity, and solidarity among nations and peoples; fostering cooperation spirit and responsible behaviour as well as upholding international law and the UN Charter; and placing people at the centre and as the goal, the key player, and the driving force of all policies.
The show, together with a grand parade to be held silmutaneously at Ba Dinh Square in Hanoi, will celebrate the 80th anniversary of the August Revolution, the National Day, and the General Staff of the Vietnam People’s Army (VPA).
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The Vietnamese Embassy in Israel is closely coordinating with relevant local agencies to stay informed and provide the utmost support possible for Vietnamese nationals.
The launch of Thanh Nien (Young People) newspaper in 1925, even before the founding of the Communist Party of Vietnam, is considered a testament to President Ho Chi Minh’s strategic foresight and strong belief in the guiding power of the revolutionary media.
