On January 11, 2022, the National Assembly issued Resolution 43/2022/QH15 on fiscal and monetary policies to support the 2022-2023 socio economic recovery program, which includes the policy of interest rate support (2%/year) up to VND 40 trillion through commercial banking systems for several industries and fields or for certain borrowing purposes. Noticeable provisions of the Draft Decree on interest rate support from the state budget for loans of enterprises, cooperatives, and business households are addressed in this article.

In the context of on-going complicated and unpredicable development of the Covid-19 pandemic, which adversely impacts several businesses, the Government is developing a Draft Decree on extension of the time limit to pay value added tax, corporate income tax, personal income tax, land rents and water surface rents in 2022, which will be issued under simplified procedure. Some outstanding provisions of the Draft Decree (2nd Draft) are addressed in this article.

New regulations on compulsory insurance in construction investment under Decree 20/2022/ND-CP amending Decree 119/2015/ND-CP on compulsory insurance in construction investment.

On January 28, 2022, the Government issued Decree 15/2022/ND-CP prescribing tax exemption and reduction under Resolution 43 on fiscal and monetary policies for supporting Socio-Economic Recovery and Development Program (Decree 15). Decree 15 takes effect from February 1, 2022. Some notable contents related to the value-added tax reduction policy are analyzed in the article.

On November 16, 2021, the Government issued Decree 102/2021/ND-CP amending and supplementing a number of provisions in Decree 125/2020/ND-CP on administrative sanctions for taxes and invoices-related violations. This Decree will take effect from January 01, 2022.

On September 17, 2021, the Ministry of Finance issued Circular No. 78/2021/TT-BTC guiding the implementation of several articles of the Law on Tax Administration, Decree No. 123/2020/ND-CP prescribing invoices and documents to complete the provisions on electronic invoices. The Circular will take effect from July 1, 2022