Continuing the implementation of VAT reduction is necessary

• The National Assembly heard a report on the draft resolution on reducing value-added tax (VAT)
• The reduction of VAT is necessary to support businesses and the people
• The reduction of VAT has positively impacted the economy
• The reduction of VAT has contributed to reducing the cost of goods and services, promoting production and creating jobs
• The government proposes to continue reducing VAT by 2% in the first 6 months of 2024 to support businesses and the people
• The majority of the Finance and Budget Committee of the National Assembly agrees with the necessity of issuing policies to accompany the Government in implementing the economic and social development plan in 2024
• The Government proposes to issue a separate resolution on reducing VAT, and the majority of the Finance and Budget Committee suggests incorporating this content into the general resolution of the National Assembly, similar to the resolution on reducing taxes specified in Resolution No. 101/2023/QH15 of the National Assembly.

Source: baochinhphu.vn

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

---

---