Keyword: "VAT reduction"

The Vietnamese Government has recently issued a decree, deciding to extend a reduction in value-added tax (VAT) until the end of June 2025.

The Ministry of Justice held a meeting to appraise the draft resolution of the National Assembly on VAT reduction, which was chaired by Deputy Minister Tran Tien Dung.

People and businesses are looking forward to the Government's proposal on extending VAT reduction in the last six months being considered and approved by the National Assembly.

The value-added tax (VAT) for most of goods and services will be cut by 2% from January 1, 2024.

Consumers and producers are happy to see the implementation of the 2% reduction of value-added tax (VAT) for products starting from July 1.

Legislators on May 24 listened to a proposal and a verification report on the further application of the 2% reduction in the value added tax (VAT) under a resolution dated January 11, 2022, as part of the ongoing fifth session of the 15th National Assembly.

The Government has proposed the National Assembly (NA) to consider a 2% reduction in the value-added tax (VAT) on goods and services subject to a 10% VAT during its coming meeting stated to start on May 22.

The Government has agreed with the Ministry of Finance’s proposal on a plan to reduce taxes, fees and charges for 2023, which suggested a 2% reduction in the value added tax (VAT) on goods and services.

Vietnam’s Government slashed the value-added tax (VAT) rate from 10 to 8 percent earlier this month – a move that cost the State budget 49.4 trillion VND (2.2 billion USD) but, along with other support, is expected to help boost the pandemic-hit economy.