NA Standing Committee discusses revised Law on the Vietnam Fatherland Front
(VOVworld) – The National Assembly Standing Committee on Tuesday commented on the revised Law on the Vietnam Fatherland Front. Amendments to the law said that the Vietnam Fatherland Front should represent and protect the legitimate rights and interests of the people.
17th session of the National Assembly Standing Committee.
Photo: vietnamplus.vn
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Chairman of the National Assembly’s Defense and Security Committee, Nguyen Kim Khoa spoke about the Front’s role in social supervision and response: "We have elected party supervision agencies and the supervision of the Vietnam Fatherland Front is in the hands of the people. This conforms with the role of the Front as stipulated in the Constitution and the law, which is to gather and report public comments to the Party and the State".
The deputies also discussed the government’s report on tax solutions to aid production and discussed revisions to the Law on Corporate Income Tax.
They agreed that businesses with over 200 full-time workers and an annual revenue of less than 1 million USD a year will see a tax rate of 20%. Businesses that invest and trade in housing will have to pay taxes of 10% of their revenues from selling and renting social houses. National Assembly Chairman Nguyen Sinh Hung said it is necessary to clarify a roadmap for corporate income tax reduction until 2020: “The tax rates should be 22% next year, 20% by 2016 and 18% by 2020. Tax policies should be simple to encourage businesses’ development and avoid negatives.”
The deputies also agreed not to submit to the National Assembly the draft resolution on tax policies to support businesses but instead include tax solutions to the revised Law on Corporate Income Tax and the revised Law on Value-added Tax.