- Decree 94/2023 in Vietnam reduces VAT by 2% from January 1, 2024, to June 30, 2024.
- The reduction applies to goods and services currently taxed at 10%, with some exceptions.
- It applies to all stages of the supply chain, including importation, manufacturing, processing, and trading.
- The reduction is applicable to business establishments that use the VAT credit method and those that declare and pay VAT at a deemed rate of revenue.
Source: kpmg.com
Join our Linkedin Group on ”VAT Rates – Legislative changes”, click HERE
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.
Latest Posts in "Vietnam"
- Guidelines for Handling VAT After Provincial Merger in Vietnam (2022-2025)
- Determining Product Groups Eligible for VAT Reduction Under Decree 174/2025/NĐ-CP
- Summary of Recent Legislative Updates on Tax Administration and Various Tax Policies as of August 2025
- New VAT Guidelines for Entities in Vietnam Start on July 1, 2025
- Vietnam and MERCOSUR FTA Negotiations: Expanding Market Access in Latin America
