Tax Sector Cooperating with Enterprises to Protect Environment

In order to call for enterprises and investors to take part in conducting pollution treatment activities, using resources efficiently, and fostering environment improvement, the Vietnamese Government has also published and implemented some finance-related solutions. These solutions have been implemented through some taxes like land tax, farming land use tax, resources tax, and through fees for activities relating to environment, like fees for waste water, fees for natural resources exploitation, fees for waste matters. Production activities in factories and industrial zones have produced large amounts of waste, which requires a close inspection.

 

The law on environmental protection took effect from January 1^st 2012, after more than one year of implementation; Vietnam has achieved some specific success. According to financial experts, the environmental protection tax aims to prevent pollution, restore environment and enhance environmental protection. Besides that, environmental taxation also targets to constrain production fields that cause serious pollution.

 

In relation to budget revenues solutions, the Vietnamese Government recently published the decree regulating environmental protection fees, like fees for waste water, fees for waste matter, and fees for natural resources exploitation. The government also offers some tax preferences to investors of pollution treatment projects, like land tax, resources tax, special consumption tax, and corporate income tax.

 

Currently, Vietnam does not tax products that cause pollution when being used to restrict their production or consumption. In the following time, the tax sector will continue to promote propaganda and implementation of the decree ratified by the Government, collaborate with enterprises, and raise the responsibility of businesses for sustainable development and environmental protection.