Scene of the 7th session of the 15th National Assembly. Photo: quochoi.vn

Deputies agreed on the need to amend the Value Added Tax Law to overcome the shortcomings and limitations of the current law. They said the revision will institutionalize the Party's policy on amending and supplementing tax laws according to market principles and international practices, coupled with restructuring revenue sources, expanding the tax base, improving tax management efficiency and applying reasonable tax rates.

Deputies contributed opinions on roadmap towards applying a single tax rate; groups of goods and services subject to tax or 0% tax rate, taxpayers, taxable prices, and tax rates. At the discussion, Minister of Finance Ho Duc Phoc clarified a number of issues raised by the National Assembly.

Also on Monday afternoon, the National Assembly passed the resolution on approving the 2022 state budget settlement.