A bundle of measures to subsidize enterprises in the context of COVID-19 is now getting under way

On September 9, 2021, the Government issues the Resolution No. 105/NQ-CP regarding support for enterprises, cooperatives and business households in the COVID-19 context.

According to this Resolution, in order to provide enterprises, cooperatives and business households with subsidies, financial and cash flow relief, the Government mandates the Ministry of Labor, War Invalids and Social Affairs to:

– Take charge of and cooperate with relevant Ministries and authorities in hastening to solicit competent authorities and the National Assembly to:

Ratify the policy on reducing SI contribution rates or using the SI fund’s residual balance as short-term financial support with a view to duly supporting employees, enterprises, cooperatives, business households and other employers. This task must be completed in September 2021.

A bundle of measures to subsidize enterprises in the context of COVID-19 is now getting under way

– Direct and guide Vietnam Social Security to study and propose exemption from fines for late payment of social insurance contributions arising in 2020 and 2021 in accordance with regulations. This task must be completed in September 2021.

Additionally, the Government is assigning the Ministry of Finance to perform the following tasks:

– Speed up implementation of policies regarding relief or rebate on taxes, fees, charges and land levies after these policies are brought into effect by competent authorities;

– Apply tax incentive policies to imports used as material assistance in COVID-19 prevention and control activities after these policies are ratified by the Government;

– Consider and study the renewal of extension of deadlines for payment of special consumption tax for domestically manufactured or assembled automobiles till end of 2021.

Resolution No. 105/NQ-CP is coming in use as of September 9, 2021.

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