- Finance ministry proposes 2% VAT reduction for first half of 2025
- Aimed at supporting businesses and stimulating the economy
- Reduction applicable to products and services subject to 10% tax rate
- Exceptions for certain groups of products and services
- Estimated deficit of VND25 trillion in State budget if policy is applied
- Previous VAT rate reduction in 2022-2024 period proved effective in stimulating demand
- VAT reduction in 2022 and 2023 contributed to increase in total retail sales of consumer goods and services
Source: vneconomy.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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