This is considered a positive lever, creating momentum to achieve the economic growth target of 8% or more in 2025, moving towards double-digit growth in the following years.
Many fiscal policies issued to support people and businesses will help achieve the economic growth target of 8% or more in 2025. In the photo: Household goods production at Sunhouse Group Joint Stock Company (Ngoc Liep Industrial Park, Quoc Oai Commune). Photo: Nhat Nam
Support businesses and people about 232,600 billion VND
Since the beginning of 2025, the Ministry of Finance has researched and submitted to competent authorities many solutions to support taxes, fees, charges and land rents, with many expanded fiscal policies.
For example, on April 2, 2025, the Government issued Decree No. 82/2025/ND-CP on extending the deadline for payment of value added tax, corporate income tax, personal income tax and land rent in 2025. This Decree takes effect from the date of signing until December 31, 2025. The total amount of tax extended under the policy is nearly VND 102,000 billion.
Recently, the National Assembly issued Resolution No. 216/2025/QH15 on extending the exemption period for agricultural land use tax. The Resolution takes effect from January 1, 2026. According to the Government's report, in the period 2001-2010, the total amount of agricultural land tax exempted and reduced was an average of VND 3,268 billion per year. This figure will increase to VND 7,500 billion per year in the period 2021-2023.
Notably, the Government issued Decree No. 174/2025/ND-CP dated June 30, 2025, stipulating the policy of reducing value-added tax according to Resolution No. 204/2025/QH15 of the National Assembly, applicable from July 1, 2025 to December 31, 2026. It is expected that the reduction in state budget revenue in the last 6 months of 2025 and the whole year of 2026 will be about VND 122,000 billion when implementing this policy.
Next, the Ministry of Finance issued a circular regulating the collection and exemption of a number of fees and charges to support businesses and people, 46 fees and charges are reduced by 50% from July 1 to December 31, 2026. With the above reduction and application period, it is expected that this policy will support people and businesses with about 3,000 billion VND... Thus, the total support for people and businesses in 2025 will reach about 232,600 billion VND, about 35,000 billion VND higher than in 2024.
Right and accurate policy
Economic experts say that the fiscal policy packages issued are very correct and timely when businesses and the economy need to recover and grow.
According to Dr. Nguyen Thi Cam Giang, Faculty of Finance, Banking Academy, extending the deadline for paying taxes and land rents is like an interest-free loan, helping businesses invest and reduce costs, while creating conditions for businesses to restructure and improve competitiveness.
“Reducing value added tax by 2% will help reduce the cost of products and services, increase consumer purchasing power, thereby promoting the consumption of domestic goods. In addition, reducing taxes, fees and exempting agricultural land use fees until the end of 2030 will support this sector to invest and apply high technology in production,” said Ms. Nguyen Thi Cam Giang.
When supported with capital and reduced tax and fee costs, businesses will have the conditions to expand production scale, create more jobs, and increase income for workers. This not only helps stabilize the macro-economy, but also contributes to improving growth quality and ensuring social security.
According to data from the General Statistics Office (Ministry of Finance), the Gross Domestic Product (GDP) in the first 6 months of 2025 increased by 7.52% over the same period last year, the highest level of the first 6 months in the period 2011-2025. Many experts believe that the above results show that fiscal policies have come into life and have taken effect.
On the business side, Dr. Mac Quoc Anh, Vice President and General Secretary of the Hanoi Association of Small and Medium Enterprises, acknowledged that fiscal policies have provided great support to businesses. The tax and land rent extension policy in particular can be considered a timely “medicine” when many small and medium enterprises are still facing difficulties in recovering orders, high input costs and limited access to credit.
To maximize the effectiveness of policies, Mr. Mac Quoc Anh said that it is necessary to further simplify implementation processes and procedures, strengthen monitoring of implementation and mid-term policy impact assessment, and link fiscal policy with proactive and flexible monetary policy.
Dr. Nguyen Van Hien, Vice Principal of Gia Dinh University:
Many solutions need to be implemented
I think that in order to achieve the economic growth target, in addition to fiscal policies, many other solutions need to be implemented. First of all, it is necessary to quickly stabilize the administrative apparatus after the merger so as not to hinder the production and business activities of enterprises and people. Besides, it is necessary to resolutely disburse public investment capital and remove all bottlenecks that slow down capital disbursement.
Another solution is to open up and expand the domestic market. Currently, the purchasing power of the domestic market is still weak, so it is necessary to boost consumer demand. The Ministry of Industry and Trade, provincial and municipal departments of industry and trade should coordinate with associations and businesses to carry out activities to connect supply and demand, link product consumption or organize large discount sales nationwide to create a boost for consumption. Commercial banks should also join forces to offer many consumer credit packages with low interest rates to support people.
Dr. Vu Thi Tan, co-founder of TECHMAT Technical Design and Consulting Company Limited:
“Lifebuoy” for businesses
In recent times, many tax policies have been specified in resolutions of the National Assembly and decrees of the Government, typically the policy of extending tax and land rent; reducing 2% value added tax; reducing many fees and charges... This is a "lifebuoy" for businesses and people to restore production. In particular, reducing value added tax has helped stimulate consumption, thereby helping businesses boost consumption of inventory, expand production, and create more jobs for workers.
However, there are still some shortcomings in the implementation process, such as in the same industry, some products are eligible for VAT reduction, but others are not. Therefore, it is difficult for businesses to identify products with reduced tax in order to issue correct invoices, avoiding possible fines later. We hope to receive specific instructions to help businesses conveniently enjoy the support policy.
Ms. Pham Thi Hoa, Cau Giay ward:
Help consumers save costs
We are very pleased that many policies to support businesses and people have been implemented recently. In particular, the reduction of value-added tax, applied from the beginning of July 2025 to the end of 2026. It is noteworthy that a number of groups of goods that were previously not subject to tax reduction, have now been subject to a value-added tax rate of 8%, including gasoline and oil. Gasoline and oil are groups of goods that have a great impact on many production sectors and people's lives, so with the tax reduction, people will save a significant amount of money each month.
Not to mention, gasoline and oil account for a large proportion of transportation costs, so the decrease in the price of these items has a direct impact on reducing transportation fares, thereby helping to stabilize the prices of goods and reduce inflation. In addition, the 50% reduction in 46 fees and charges until the end of 2026, including the fee for issuing and reissuing ID cards and passports, is also a very practical regulation for the people.
Thanh Huong take note
Source: https://hanoimoi.vn/dieu-hanh-chinh-sach-tai-khoa-hop-ly-tao-da-cho-tang-truong-kinh-te-708235.html
Comment (0)