The VAT rate applicable to goods and services subject to 10% VAT rate generally would be reduced to 8%
The Ministry of Finance submitted to the government a draft decree on the value added tax (VAT) reduction policy.
Under the policy, the VAT rate applicable to goods and services subject to the 10% VAT rate generally would be reduced by 2%, to 8%.
The draft decree is proposed to become effective 1 July 2023.
Source KPMG
