Agriculture, forestry and fishery sector top list of support from Ministry of Finance

illustration image. Source: Internet

According to the draft, the extension will apply to businesses, organisations, individuals, groups of individuals and household businesses which are directly and severely affected by the Covid-19 epidemic. The draft divided theminto three groups.

The first group includes enterprises, organisations, individuals, groups of individuals and households engaged in production activities in agriculture, forestry and fishery sectors; production and food processing; weaving; costume manufacturing; shoes manufacturing; manufacturing products from rubber; electronic products and computers manufacturing; manufacturing and assembling cars (except for manufacturing and assembling cars with nine seats or less).

The second group is enterprises, organisations, individuals, groups of individuals and households doing business in railway transport industries; road transport; water transport; air transport; warehousing and support activities for transportation; accommodation services, catering services; activities of travel, tourist agents and support services, related to tour promotion and organisation.

The last group is small and micro enterprises defined in accordance with the Law on Supporting Small and Medium Enterprises No. 04/2017/QH14 and Decree No. 39/2018/ND-CP of the Government dated March 11, 2018 stipulating a number of articles of the Law on Supporting Small and Medium Enterprises.

Director of the Tax Policy Department Pham Dinh Thi said the proposal was made based on research and evaluations from ministries and industries as well as practical references from the business sectors and the opinions of international organisations as well as experts.

Also according to Thi, in the current context, the biggest issue for enterprises is the source of capital. The extension of the deadline for paying tax and land rents will support capital for enterprises, organisations and households to overcome this difficult period.