- 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
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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.
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