(VOVworld) - National Assembly deputies on Wednesday discussed changes to the Law on Corporate Income Tax including tax preferential policies for certain areas and localities. Under the revised draft, the common tariff will be 22% instead of current 25% beginning January 1^st, 2014, and 20% after January 1^st, 2016 while preferential taxes will be reduced from 20% to 17%.  Deputies agreed on a tax reduction roadmap and proposed applying a common tariff of 20% beginning July 1^st , 2014 to boost domestic enterprises and keep pace with the regional trend. Do Van Ve, a deputy from Thai Binh province, says: “Now and in the next few years, enterprises are facing numerous difficulties. To implement the Program on Economic Restructuring, enterprises will have to deal with new financial burdens. So if we reduce the tariff to 20%, it will encourage enterprises to expand their production. The State and private enterprises will share the difficulties and this will encourage the enterprises. Vietnamese enterprises have to compete with foreign-invested enterprises and integrate into the global economy at the same time, so I would like to propose reducing tariffs to 20% this year and to 18% in the following years without discriminating between big and small enterprises. By doing so, we can ensure a level playing field”.

The same day, the National Assembly heard reports on the Law on Receiving Citizens and the Law on National Defense and Security Education.