On 24 June 2023, the National Assembly adopted Resolution No. 101/2023/QH15 for the fifth Session of its 15th Legislature (“Resolution 101”). To support socio-economic recovery efforts, under this Resolution, the National Assembly passed its policy reducing VAT to 8% for eligible goods and services in 2023 (“VAT Reduction Policy”).To implement the policy and provide detailed guidance, the Government issued Decree No. 44/2023/ND-CP on 30 June 2023 (“Decree 44”). The VAT Reduction Policy takes effect on 1 July 2023 and ends on 31 December 2023.
Source: insightplus.bakermckenzie.com
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