Vietnam Implements 8% VAT Cut and Fee Reductions to Boost Economy

• Vietnam cuts VAT to 8% from 10% till the end of the year
• The VAT reduction is not applicable to certain services and products
• The decree also includes reductions in fees and charges for enterprises
• Reductions range from 10-50% for various fees and charges
• This is the fourth time the ministry has imposed fee reductions, with an estimated budgetary impact of about 700 billion VND

Source: en.vietnamplus.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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