Vietnamese people now must pay for about 40 per cent of health services, a very high rate, causing about 700-800 thousand households to fall into poverty each year, according to a senior Oxfam expert.
Due to strong opposition against the proposal on raising value added tax (VAT), the Ministry of Finance (MoF) has recently proposed to delay the VAT increase to 11 per cent until from January 01, 2019 and to 12 per cent until January 01, 2020.
According to Dr Vo Tri Thanh, the greatest concern now is how to reach the target of 6.7% as the short-term growth target of 2017 while not breaking the commitments for long-term growth.
According to Dr Nguyen Duc Thanh, raising taxes is not a sustainable solution, as no society can thrive while shouldering a heavy taxation burden. It will slowly shrink.
Nguyen Manh Ha, vice chairman of the Vietnam National Real Estate Asociation (VnREA) said that the proposal of imposing VAT on land use rights of the Ministry of Finance will make the real estate market in danger.
If the Ministry of Finance (MoF)’s draft law, which amends and supplements five tax laws is adopted, it will have serious impacts on beverage producers.
The VAT increase proposed by the Ministry of Finance prompt me to the question: For whom? In a country where the State affirms that it is "of the people, by the people, for the people", raising VAT is eventually for whom?
According to Associate Professor, Dr Ngo Tri Long, former head of Price and Market Research Institute under the Ministry of Finance, reasons put forward by the Ministry to increase value added tax (VAT) are inappropriate and unconvincible.
The proposal for the two-percent VAT increase from January 1st, 2019 of the Ministry of Finance (MoF) may lead to a rise in real estate prices, which tremendously affects the economy, businesses and the daily life of the people.
Publication permit No. 348/GP-BTTTT dated July 19, 2017, granted by the Ministry of Information and Communications of the Socialist Republic of Vietnam
Editor-in-Chief: Nguyen Cao Cuong
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