A plenary session of the 15th NA's fifth sitting (Photo: VNA)
Hanoi (VNA) – The15th National Assembly (NA) has decided to continue the reduction ofthe value added tax (VAT) by 2%, from July 11 through December 31, 2023.
This is part of the resolutionof the NA’s fifth session that received support from 481 of the 482 deputiescasting votes on June 24 afternoon.
Earlier, Secretary General of the NA and Chairmanof the NA Office Bui Van Cuong had delivered a report explaining and presentingrevisions to the draft resolution, which was sent to legislators on June 21 toseek their feedback.
He said that some deputiesrecommended expanding the coverage of the VAT cut to all groups of goods andservices currently subject to the tax rate of 10%; raising the reduction levelto 3%, 4% or 5%; and extending the policy until mid-2024 or the end of that year.
However, the NA Standing Committee held that if the coverageand level of the VAT reduction are further expanded, the state budgetcollection will be affected much. Meanwhile, the Government hasn’t fullyassessed this policy’s effects, especially amid the budget revenue decline duringthe first months of 2023 compared to the same period last year.
Therefore, the NA Standing Committee wishedto propose the NA maintain the coverage and level of the tax cut, Cuong noted.
Also on June 24, theparliament adopted a resolution on the activityof questioning at its fifth session.
During the fifth session, the NA approved eight laws and 17resolutions, gave opinions for the second time on the draft revised Land Law,and scrutinised eight draft laws for the first time./.
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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.
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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.
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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.
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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.
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Addressing concerns over university education spending, Son explained that as public universities gain greater autonomy, the Ministry of Finance has scaled back recurrent state funding. “Over the past decade, as autonomy has increased, the State's support has steadily declined”, he noted
A plenary session of the 15th NA's fifth sitting (Photo: VNA) 
