Closing Session of the First Meeting of the 13th Term National Assembly

NA Chairman Nguyen Sinh Hung is making a speech at the closing session

Addressing the closing session, NA Chairman Nguyen Sinh Hung stated that:

The NA elected the State President, the Prime Minister, NA Chairman, Vice President, Chief of the Supreme People's Court, and Head of Supreme People’s Procuracy, Vice Chairmen of the NA, Members of the Standing Committee at the NA, Members of the Ethnic Committee, the NA Committees, and the NA Secretariat, and the State General Auditor.

The NA approved of the State President’s proposal on the list of Defense and Security members, deciding on the structure of the government, passing the Prime Minister’s proposal on the appointment of the Deputy Prime Ministers, Ministers, and other members of the government.

NA Chairman Nguyen Sinh Hung stressed that government agencies are urged to strengthen and complete their organizational structure, to continue innovations, and to improve quality and performance.

Simultaneously, agencies are to strengthen cooperation ties and relationship, to promote the important roles of Vietnam Fatherland Front Committee, political-social unions, sectors, and levels of authorities to create a general power for a successful implementation of national renovations, construction and defense, said Hung.

The NA called for the people and soldiers throughout the country and overseas compatriots to uphold patriotism, to raise self-strength will, to promote all domestic resources and international cooperation, to take advantage of opportunities, to overcome challenges, to try to successfully implement the 11th Party Congress’s Resolution, to strive for the goal of a prosperous, strong, democratic, just, and civilized country.

During the afternoon session, the NA deputies voted for four important resolutions.

- Resolution to approve of the State Budget 2009.

- Resolution on 2012 law and ordinance program and on the adjustment of 2012 law and ordinance program.

- Resolution on 1992 Constitution amendment, and on the establishment of the Commission for 1992 Draft Constitution Amendment.

- Resolution on the additional issuance of tax solutions to solve difficulties for businesses and individuals.

In terms of the issuance of tax solutions to solve difficulties for businesses and individuals, the resolution states that 30 percent of payable corporate income taxes in 2011 will be reduced.

50 percent of added value tax, personal income tax, and corporate income applicable to individuals, households that provide boarding houses or room-for-rent services for workers and students will be reduced from the third quarter of 2011 to the end of 2011

Households and individuals that take care of children, workers on the condition that these households, individuals, and organizations stabilize prices for lease, take care of children, and supply industrial meals in late 2010.

Personal income tax exemption takes effect from August 1, 2011 to December 31, 2012.

This is applicable to earners with dividends from investments in the stock market, and from capital contributed to buy corporate shares except for dividends from the shares of banks, financial investment funds, and credit institutions.

50 percent of personal income tax for the transfer of individuals’ securities will be reduced from August 1, 2011 to December 31, 2012.

Personal income tax exemption takes effect from August 1, 2011 to December 31, 2011.

This is applicable to all earners with level-1 taxable income from salary or wages, and from business activities on the partially progressive tax rates table stipulated in Personal Income Tax Law.

Source: Dong Nai Newspaper, Translated by Duy Minh