- Government issued Resolution 81/NQ-CP proposing to reduce VAT until the end of 2024
- Draft resolution will reduce VAT rate by 2% for goods and services currently taxed at 10%
- Ministry of Finance proposed the resolution to National Assembly as per Government’s request
- Ministry of Justice authorized to submit the proposal to National Assembly for approval
- Government requested timely review and issuance of tax extension regulations and reduction of fees to support businesses
- Proposal to continue reducing VAT by 2% until December 31, 2024
- Draft resolution excludes certain sectors from VAT reduction such as telecommunications, IT, finance, banking, real estate, metal production, and mining industries.
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.
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