Illustrative image (Source: VNA)Hanoi (VNA) – The State Bankof Vietnam (SBV) will continue directing commercial banks to reduce interestrates for customers affected by the COVID-19 pandemic, said Deputy Governor Dao Minh Tu at theGovernment’s press conference on August 11.
Tu noted that recently, 16 major commercial banks have committed to cutting interest rates for specific groups witha total reduced amount until the end of this year estimated at about 20.3 trillion VND (891.8 millionUSD).
Alongside, four state-owned commercial banks, Vietcombank, Viettinbank, BIDV, Agribank, have agreed to cut anadditional 1 trillion VND worth of interest rates each for cities and provinces undertakingsocial distancing measures.
Alongside, four state-owned commercial banks, Vietcombank, Viettinbank, BIDV, Agribank, have agreed to cut anadditional 1 trillion VND worth of interest rates each for cities and provinces undertakingsocial distancing measures.
Meanwhile, banks have pledged to reduce100 percent of service and banking fees, including currency payment fee for HoChi Minh City and southern localities.
The SBV Deputy Governor affirmed thatthe bank will strengthen supervision to make sure the commitments are realiseduntil the end of this year.
At the press briefing, Deputy Ministerof Finance Nguyen Duc Chi said that affected businesses and people are expected to benefit from 118 trillion VND (5.18 billion USD) resulting from support related to taxes, land rent as well as charge and fee reductionto them overcome difficulties caused by COVID-19.
The SBV Deputy Governor affirmed thatthe bank will strengthen supervision to make sure the commitments are realiseduntil the end of this year.
At the press briefing, Deputy Ministerof Finance Nguyen Duc Chi said that affected businesses and people are expected to benefit from 118 trillion VND (5.18 billion USD) resulting from support related to taxes, land rent as well as charge and fee reductionto them overcome difficulties caused by COVID-19.
The ministry is making revisions topropose a number of additional solutions, including a 30 percent reduction incorporate income tax for firms with total revenue of less than200 billion VND in 2021.
Business households and individuals willenjoy a tax cut of 50 percent, while COVID-19 hard-hit groups will enjoyreductions in added value tax, along with exemption of late tax payment fines and decreases inland rent, with an expected value of over 20 trillion VND.
An overview of the press conference (Photo: VNA)
For his part, Deputy Minister of Industryand Trade Do Thang Hai said that the ministry is working with the Ministry ofHealth to design more optimal conditions for the “three-on-site” scheme appliedin Ho Chi Minh City and southern localities, with guidances to be issued soonto ensure the efficiency of pandemic control and production at the same time.
Regarding the circulation of goods, Haisaid that the issue has basically been solved thanks to the government's approval of itsproposal on allowing the circulation of all goods excepting for banned goods.
At the same time, the ministry hassuggested prioritising vaccination against COVID-19 for drivers and cargo loaders, whiledesigning traffic regulating plans to avoid congestion, he added./.
Business households and individuals willenjoy a tax cut of 50 percent, while COVID-19 hard-hit groups will enjoyreductions in added value tax, along with exemption of late tax payment fines and decreases inland rent, with an expected value of over 20 trillion VND.
An overview of the press conference (Photo: VNA)For his part, Deputy Minister of Industryand Trade Do Thang Hai said that the ministry is working with the Ministry ofHealth to design more optimal conditions for the “three-on-site” scheme appliedin Ho Chi Minh City and southern localities, with guidances to be issued soonto ensure the efficiency of pandemic control and production at the same time.
Regarding the circulation of goods, Haisaid that the issue has basically been solved thanks to the government's approval of itsproposal on allowing the circulation of all goods excepting for banned goods.
At the same time, the ministry hassuggested prioritising vaccination against COVID-19 for drivers and cargo loaders, whiledesigning traffic regulating plans to avoid congestion, he added./.
VNA
