Fiscal Policy for Circular Business Model: International Experience and Lessons for Vietnam

Abstract: Fiscal policy is considered as an effective economic instrument for guiding and encouraging businesses to implement the circular economy model by affecting the costs and benefits of production and consumption behaviors of subjects. This article gives an overview of the circular economy model, world trends, the role of fiscal policy and international experience in using tax policy tools to encourage businesses to implement the circular economy model. This article also analyzes the current situation of fiscal policy on guiding and encouraging businesses to implement the circular economy model and makes recommendations for Vietnam.

Key words: circular business, fiscal policy, green growth, sustainable development

JEL codes: G38