Vietnam Implements 8% VAT Rate Cut Until Year End, Excludes Specific Sectors

• Vietnam has reduced its value-added tax (VAT) rate from 10% to 8%
• The reduction is effective from July 1, 2024, until December 31, 2024
• The VAT reduction excludes certain sectors such as telecommunications, finance, banking, security, insurance, real estate, certain chemicals, and goods subject to special consumption tax
• The reduction applies to import, export, production, and trade activities.

Source: wam.ae

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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