Reviewing and Enhancing Financial Derivatives Tax Law: Addressing Inadequacies and Regulations in Vietnam

• Many National Assembly delegates believe that the current regulations on financial derivative services are not comprehensive enough
• There is a need to review and provide more detailed regulations on financial derivative services in the draft Value Added Tax Law amendment
• The discussion on the draft Value Added Tax Law amendment attracted significant attention and input from National Assembly delegates
• The amendment of the Value Added Tax Law is necessary to align with economic and social development goals and tax reform strategies
• The draft law introduces new provisions to improve tax policies related to state budget revenue structure
• Some provisions in the draft law need further study and evaluation, especially regarding tax rates for essential goods and services
• The amendment of the Value Added Tax Law aims to implement the Party’s policies, simplify tax management procedures, and ensure consistency in legal application
• The current regulations on financial derivative services lack transparency and clarity, leading to potential inconsistencies in tax application
• The draft law needs to clarify regulations on financial derivative services beyond the banking sector, including securities and trade industries.

Source: baochinhphu.vn

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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