Proposal to continue reducing 2% VAT for the first 6 months of 2025

• Proposal to continue reducing the value-added tax by 2% in the first 6 months of 2025
• Ministry of Finance suggests building a resolution of the National Assembly on reducing the VAT in the first 6 months of 2025
• The reduction aims to stimulate consumer demand and contribute to economic recovery and development
• The proposed 2% reduction in VAT applies to goods and services currently taxed at 10%
• Exclusions from the reduction include telecommunications, IT, financial activities, real estate, and certain other sectors
• The reduction is intended to boost economic growth and support businesses
• Previous reductions in VAT have contributed to increased domestic consumption and economic growth
• The reduction in VAT in previous years has resulted in significant savings for businesses and consumers
• The reduction in VAT has led to increased retail sales and service revenues
• The reduction in VAT has been part of efforts to support economic recovery and development.

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.

---

---