- Businesses expect the government to reduce VAT by 2 percent by the end of 2026.
- The policy aims to boost economic development by expanding the range of goods and services eligible for VAT reduction.
- Since early 2022, the government has reduced VAT from 10 percent to 8 percent for certain goods and services, excluding sectors like telecommunications and finance.
- The policy has positively impacted production, circulation, and consumption, reducing costs for economic activities.
- Significant VAT reductions have been granted to companies like Ha Tinh Oil and Gas Power and Ha Tinh Power.
- The policy is expected to continue until the end of 2026, with discussions on extending the VAT reduction period.
- The extension allows businesses to plan long-term development strategies.
Source: vietnam.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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