On behalf of the Prime Minister, Minister of Finance Dinh Tien Dung pointed out that the government is working on the amendments and supplements to the existing tax laws on value added tax, special consumption tax law and the tax management law. These laws have been criticised for being out of date and unsuitable with international standards.
The Chair of the National Assembly's Finance & Budget Committee, Phung Quoc Hien agreed with the necessity to make changes to the existing laws due to the new challenges posed by economic integration facing Vietnamese enterprises and pressure of administrative reforms. Such changes will help improve Vietnam’s business environment, encourage localisation and promote support industries.
