NA debates tax incentives for press agencies
(VOVWORLD) - During the ongoing session of the 15th National Assembly on Thursday, National Assembly deputies held separate meetings on personnel affairs. High on the agenda were also the draft Law on Corporate Income Tax (amended) with a focus on the need for preferential tax rates to support press agencies in fulfilling their political missions, fostering economic growth, and ensuring social stability.
 NA debates tax incentives for press agencies |
Delegates advocated for reduced corporate income tax rates for press agencies, emphasizing their primary focus on political rather than commercial objectives. Currently, the 20% tax rate applied to non-core activities such as advertising and event organization places significant financial pressure on these agencies. Declining advertising revenues have further strained their operations.
Thach Phuoc Binh, a NA deputy for Tra Vinh province, said: "I suggest reducing the corporate income tax rate for press agencies to 10% or lower for taxable income from non-political tasks like advertising and event organization. Additionally, tax exemptions should be applied to sponsorships and aid received by press agencies. This would provide resources to support their political and communication missions while clearly distinguishing between tax-exempt communication duties and income-generating business activities that benefit from reduced tax rates."
The same day, the National Assembly passed several key laws, including the amended Law on Human Trafficking Prevention and Control, amendments to the Law on Officers of the Vietnam People's Army, and a resolution on piloting new methods for handling evidence and assets in criminal cases.
Discussions continued in the afternoon on amendments to the Law on Technical Standards and Regulations, a draft resolution on reducing value-added tax, and personnel matters.