Policies to support people in 2022 according to Resolution 43/2022/QH15

1. Reducing VAT from 10% to 8% in 2022:

️⛳ Pursuant to Clause 1, Article 3 of Resolution 43/2022/QH15, the VAT reduction in 2022 is 2%, applicable to groups of goods and services currently subject to the 10% tax rate.

️⛳ In this Resolution, the value-added tax reduction does not apply to groups of goods and services: telecommunications, information technology, financial activities, banking, securities, insurance, and real estate, metals, prefabricated metal products, mining products (excluding coal mining), coke, refined petroleum, chemical products, goods and services subject to excise tax especially.

️⛳ In addition, the tax exemption and reduction policy in this Resolution also allows to include the support and sponsorship of enterprises for the prevention and control of Covid-19 into deductible expenses when determining income subject to corporate income tax of the tax period 2022.

2. Interest rate support for businesses and business households:

️⛳ Pursuant to Point c, Clause 1, Article 3 of Resolution 43/2022/QH15, in addition to reducing VAT for a number of groups of goods and services, in order to support businesses and business households, this Resolution also supports loan rates are as follows:

▪️ A number of important industries and fields, enterprises, cooperatives, and business households are capable of repaying debts, recovering, renovating old apartments, building social housing, houses for workers to buy or rent, lease purchase is supported with an interest rate of 2%/year through the system of commercial banks. The maximum supported interest rate is 40 trillion VND.

▪️ The tourism development support fund is entitled to the maximum charter capital of VND 300 billion.

▪️ Continue to restructure the repayment term, maintaining the same debt group, exempting as well as reducing loan interest for customers affected by Covid-19.

▪️ Continue to provide capital for employers to borrow money to pay salaries for job cessation, pay wages to restore production to employees through funding for the Bank for Social Policies.

⏭️  Previously, on November 26, 2021, in Decision 1990/QD-TTG, the Prime Minister decided to reduce the loan interest rate by 10% for outstanding loans at the Bank for Social Policies from October 1, 2021. 2021 to the end of December 31, 2021.

3. Reducing loan interest to support customers infected with Covid-19:

✨ In addition, to supporting interest rates for businesses and business households, this Resolution also stipulates to continue to restructure debt repayment terms and maintain debt groups, exempting and reducing loan interest for customers affected by the Covid-19 epidemic.

✨ In addition, in 2022 and 2023, the resolution also sets a goal to reduce lending interest rates by 0.5 - 1%, especially for priority areas through the implementation of open market operations, refinancing, and reducing operating costs.

⏭️ Currently, according to the provisions of Circular 14/2021/TT-NHNN, customers will be able to reduce their loan interest rates from January 23, 2021, to June 30, 2022, when they are unable to repay their loans on time due to the impact of Covid-19 and has an outstanding balance arising before August 1, 2021, but does not include debts from buying and investing in corporate bonds...

4. Other policies:

✅ Housing rent support for employees who are renting, boarding, or working in industrial parks, export processing zones, and key economic areas. The amount of money used is about 6.6 billion VND from spending savings, increasing central budget revenue in 2021.

✅ Supporting for individuals to borrow to buy, rent to buy social housing, new construction/renovation, housing repair, social housing policy, employment support... up to 38.4 trillion VND.

✅ Equipping children with tablets with an amount of 1 trillion dongs...

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