- Vietnam’s Government reduced the VAT rate from 10% to 8% through Decree No. 44/2023/ND-CP, following the approval of Resolution 101/2023/QH15 by the National Assembly.
- The decree will be in effect from 1 July to 31 December 2023, and certain goods and services such as telecommunications, IT services, finance and banking services, real estate business, metal production, mining industry, and goods subject to special sales tax will not be eligible for the reduced VAT rate.
- The General Customs Department issued a letter guiding the implementation of the reduction of VAT at the rate of 8% for imported goods.
- The VAT reduction policy aims to manage VAT reduction in a timely manner and ensure no negative impact on the State budget collection and overpayment.
Source Pagero
Click on the logo to visit the website
Latest Posts in "Vietnam"
- Vietnam and MERCOSUR FTA Negotiations: Expanding Market Access in Latin America
- Vietnam’s New Tax Compliance Rules for E-Commerce and Digital Platforms Effective July 2025
- Vietnam Updates VAT Regulations: New Decree Clarifies Exemptions, Rates, and Refund Conditions
- Vietnam Amends VAT Law: New Decree on Taxable Goods, Rates, and Refunds Effective July 1
- Criteria for Determining VAT Reduction Eligibility for Fireproof Steel Doors in Vietnam
