Vietnam’s National Assembly Approves VAT Rate Reduction to Boost Economy

• Vietnam’s National Assembly has approved a resolution to reduce the standard VAT rate from 10% to 8% from 11 July to 31 December 2023.
• The rate reduction was proposed in April 2023 to boost the economy and is expected to be similar to the VAT rate reduction in 2022, which excluded certain supplies.

Source Orbitax