RESOLUTION

INTRODUCING A NUMBER OF TAX POLICIES IN ORDER TO RESOLVE DIFFICULTIES FOR ORGANIZATIONS AND INDIVIDUALS

THE NATIONAL ASSEMBLY OF THE SOCIALIST REPUBLIC OF VIETNAM

Pursuant to the Constitution of the Socialist Republic of Vietnam in 1992, amended and supplemented under the Resolution No. 51/2001/QH10;

Pursuant to the Law on National Assembly organization No. 30/2001/QH10, amended and supplemented under the Law No. 83/2007/QH11; the Law on Tax administration No. 78/2006/QH11; the Law on Personal income tax No. 04/2007/QH12, the Law on Value-added tax No. 13/2008/QH12; the Law on Enterprise income tax No. 14/2008/QH12;

After considering the Government’s Statement No. 123/TTr-CP on May 18, 2012; The Inspection report No. 561/BC-UBTCNS13 on May 18, 2012 of the Finance and Budget Committee; after obtaining the opinions from the National Assembly members and the Report on explanation, acquisition and amendment No. 166/BC-UBTVQH13 on June 15, 2012 of the Standing committee of the National Assembly of the Socialist Republic of Vietnam about the Draft Resolution on the introduction of a number of tax policies on resolving difficulties for organizations and individuals;

RESOLVES:

Article 1. Introducing a number of preferential tax policies on organizations and individuals

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a) Medium and small enterprises, excluding medium and small enterprises doing lottery, real estate, securities, finance, banking, insurance business or producing goods, providing services subject to special consumption tax; first-class enterprises, special-class enterprises belonging to economic corporation and general companies;

b) Intensive-labor enterprises that produce, process and treat: agricultural products, forestry products, aquacultural product, textile and garment, leather and footwear, electronic components; building socio-economic infrastructural constructions

2. The presumptive tax (value-added tax, personal income tax) and enterprise income tax in 2012 is exempted for households and individuals providing hostel services for laborers, workers, students; households and individuals providing nursery services; households and individuals providing catering services as long as such households and individuals sustain the prices of their services as from the end of 2011.

3. The personal income tax is exempted from July 1^st until the end of December 31^st 2012 for individuals earning taxable incomes from salaries, wages and business that belong to the Level 1 of the Partially progressive tariff specified in Article 22 of the Law on Personal income tax No. 04/2007/QH12.

Article 2. Implementation provisions

1. This Resolution takes effect as from its approval.

2. The Government elaborate the implementation of this Resolution.

This Resolution is approved by the 08^th National Assembly of the Socialist Republic of Vietnam in the 3^rd session on June 21, 2012.

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THE PRESIDENT OF THE NATIONAL ASSEMBLY




Nguyen Sinh Hung