2022 State Budget: Fiscal Policy and Structural Reform
The Urgency of Tax Reform
Stronger and Broader
Tax Base
Growing consumption
Higher Income Per Capita
Healthier and
Sustainable Budget
Stronger State Revenue
Low Budget Risk and
manageable financing risk
High Economic Growth
Boost investment and job
creation
Improve ease of doing
business
TOWARDS FAIR, HEALTHY, EFFECTIVE, AND ACCOUNTABLE TAX SYSTEM
TAX REFORM
Policy Reforms
Administration Reforms
Broadening tax base
•
Simpler and more efficient tax administration
•
Enhance competitiveness
•
Ensuring legal certainty
•
More efficient and effective tax incentives which are in line with global tax
dynamics
.
Utilizing financial data and information
•
Tax incentives are more prioritized for high value-added sectors with
larger job creation
Flexible to changes of the economic structure, business activities
including digital economy
•
Reducing excessive tax exemptions and distortionary effect
•
In line with global tax changes and best practices
•
High tax compliance.
•
Improving tax progressivity.
Source: Ministry of Finance
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