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Tax breaks for agriculture

by VTV418 September 2016 Last updated at 12:33 PM

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VTV.vn - The NA Standing Committee discussed the preparations for the 2nd session of the 14th National Assembly and tax exemptions and reductions for agricultural land and improvements to agricultural exports.

According to the draft, 7 million hectares, accounting for 68% of the total cultivated land would be eligible for these policies. The tax exemptions and reductions for agricultural land were valued at nearly 315 million USD. The government has proposed to exempt tax for household agricultural land to encourage investment into agriculture and rural areas, expanded scale and more effective use of agricultural land. This proposal has been approved by the National Assembly Standing Committee. However, the committee has asked to assess the draft policy’s affect on agricultural production.