Deputy Prime Minister Le Minh Khai has asked the Ministry of Finance (MoF) to focus on effectively implementing fiscal policies already issued, in particular those on extending and reducing taxes and fees, to help tackle difficulties facing businesses.

Speaking at a meeting on July 13 to review financial tasks in the first half of the year and discuss tasks over the remaining months, Deputy Prime Minister Khai requested that the MoF soon submit to the Prime Minister for approval a policy to reduce 30 per cent of land lease fees for businesses in 2023.

The MoF should combine other monetary policies and macro-economic policies to support the economy and remove difficulties and obstacles for businesses and individuals, control inflation, stabilize the macro-economy, ensure major balances in the economy, and strive to fulfill growth targets in 2023, he said.

The ministry was instructed to continue to effectively implement solutions to manage and stabilize prices and the market, especially for essential products and services.

Deputy Prime Minister Khai also asked the ministry to continue taking other measures over the course of the second half of the year, such as reviewing, cutting, and simplifying administrative procedures to help reduce time and cost for businesses, accelerating value added tax refunds for businesses and individuals, and promoting digital transformation, particularly in the tax and customs.

Since early in the year, the MoF has proposed the government and National Assembly issue policies to extend payment times and reduce certain types of taxes and fees totaling nearly VND200 trillion ($8.43 billion), according to Minister of Finance Ho Duc Phoc.