Government: Tax and interest exemption for people and businesses after the storm

The Government has just issued Resolution No. 143/NQ-CP dated September 17, 2024 on key tasks and solutions to urgently overcome the consequences of storm No. 3, quickly stabilize the people's situation, promote the recovery of production and business, actively promote economic growth, and control inflation well.

Damage over 50,000 billion VND, GDP down 0.15%

Resolution estimating total property damage due to storm number 3 caused about over 50,000 billion VND. Forecast can make the speed GDP growth The whole year decreased by about 0.15% compared to the growth scenario of 6.8-7%. The economic growth rate of many localities such as Hai Phong , Quang Ninh, Thai Nguyen, Lao Cai … could decrease by over 0.5%.

The Prime Minister visited the scene in Lang Nu village - Lao Cai and directed the tasks of rebuilding new housing for the people.

Therefore, in addition to the groups of solutions to overcome the consequences of storms and floods, the resolution also sets out many reconstruction solutions to support production establishments, business households, cooperatives, and enterprises to restore fasten production, supply, labor chains, restore and promote production and business development, economic growth

The resolution requires the Ministry of Education and Training and localities to implement tuition exemption and reduction for students affected by storm number 3 in the 2024-2025 school year.

Specifically, the Government requested the Ministry of Finance to urgently and effectively implement policies on exemption, reduction, and extension of taxes, fees, land rents, water surface rents, etc. for those affected or damaged by storms, floods, landslides, according to the provisions of law.

The Ministry of Finance is requested to direct insurance companies to urgently review and pay insurance benefits to affected customers according to regulations. In the immediate future, it is necessary to immediately make advance compensation payments to customers according to regulations.

Build credit packages with preferential interest rates

Bank The Vietnamese State shall, pursuant to Clause 4, Article 147 of the Law on Credit Institutions 2024, report to the Prime Minister in September 2024 on the classification of assets, the level of risk provisioning, the method of risk provisioning and the use of risk provisioning to handle risks to support customers facing difficulties and losses due to the impact of storm No. 3.

Damage caused by storm No. 3 to the economy is about over 50,000 billion VND.

The State Bank directs credit institutions to proactively calculate support plans, restructure debt terms, maintain debt groups, and consider interest-free loans for damaged customers; build new credit programs with appropriate preferential interest rates, continue to provide new loans to customers to restore production and business after the storm according to current legal regulations.

The Ministry of Planning and Investment shall preside over and coordinate with the Ministry of Finance to research, advise, and report to the Government and the Prime Minister in October 2024 to supplement resources for the Vietnam Bank for Social Policies to lend credit programs being implemented at the Vietnam Bank for Social Policies, especially lending to poor households and other policy beneficiaries in the Northern Midlands and Mountains provinces.

The Ministry of Industry and Trade studies and proposes policies to support the rapid restoration of damaged logistics facilities and warehouses to ensure that the supply chain is not interrupted. Research the application of electricity price for tourist accommodation facilities equal to the price of electricity produced.

Vietnam Social Security is studying the extension of social insurance payments for tourism businesses damaged by storm No. 3.

The Government requests the State Audit and the National Assembly Committees to consider temporarily suspending audits and supervision in localities according to the State Audit's audit plan, supervision activities according to the supervision program of the National Assembly, the National Assembly Standing Committee, and the National Assembly Committees so that localities can focus on overcoming the consequences of natural disasters and floods.

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