The Vietnam government issued Decree No. 72/2024/ND-CP on 30 June 2024, reducing the VAT rate from 10% to 8% for certain goods and services in the second half of 2024. This reduction is similar to previous ones, with exceptions for specific sectors such as telecommunications, finance, and excise tax. The reduction applies uniformly at different stages of business, and businesses must specify the reduced rate on their invoices. Decree No. 72/2024/ND-CP is effective from 1 July 2024 to 31 December 2024.
Source Orbitax
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