2% VAT Tax Reduction: Benefits for Consumers and Businesses

• Resolution 72/2024 issued by the Government reduces VAT by 2% for certain goods and services
• Reduction in tax applies to items such as telecommunications, information technology, financial activities, real estate, and special consumption tax products
• Expert Nguyen Van Phung believes that the tax reduction will stimulate the economy and increase consumer demand
• Retail sales and service revenue have increased by 8.6% compared to the same period last year
• The tax reduction is seen as a boost for businesses and consumer demand, in line with Government Resolution 93 to promote economic activities

Source: media.chinhphu.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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