Local budget revenue for the last six months of 2020 is estimated to decrease by VND3,700 billion due to the reduction of registration fee for domestically manufactured or assembled cars. Photo: H.P

Accordingly, following the Government’s Resolution No. 84/NQ-CP dated May 29, 2020, pursuant to the provisions of the Law on Promulgation of Legal Documents, the Ministry of Finance has developed the draft decree in simple procedures.

The draft decree has been sent to ministries, sectors, localities and the business community for comments; sent to organizations and individuals via the Government’s and the Ministry of Finance’s portals. 

At the same time, the draft decree has been submitted to the Ministry of Foreign Affairs, the Ministry of Industry and Trade to assess its compatibility with relevant international treaties to which Vietnam is a member.

Currently, the Ministry of Finance has received 47 comments, of which14 comments are from ministries and sectors, and 27 comments from localities; six comments from associations, businesses and organizations. Basically, all of them agreed with the the necessity and contents of the draft decree.

On June 15, 2020, the Ministry of Finance issued Official Letter No.7164/ BTC-CST asking for the assessment of the Ministry of Justice. On June 19, 2020, the Ministry of Justice issued the appraisal report No. 127/BCTD-BTP on the draft decree. The Ministry of Finance has studied the Ministry of Justice’sappraisal report to perfect the draft and to submit to the Government.

The Ministry of Finance said that the 50%reduction of registration fee for domestically manufactured and assembled cars is estimated to reduce by VND3,700 billion of the local budget revenue in the last six months of 2020.

By Thuy Linh/Ngoc Loan