- Government proposed 2% VAT reduction for first half of 2024
- Experts have conflicting responses to the proposal
- Some suggest extending the reduction period and expanding the list of applicable items
- Concerns raised about impact on state budget revenue and socioeconomic development
- Ministry of Finance estimates budget deficit of VND37.1 trillion if reduction applied to all goods and services
- Businesses recommend tax reduction extension and other support solutions for 2024
Source: vir.com.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.
