Continuing 2% VAT reduction until the end of 2024 approved by National Assembly

• The Standing Committee of the National Assembly agreed to continue reducing the value-added tax by 2% until the end of 2024 for certain groups of goods and services.
• The Committee discussed the necessity, legal basis, and practical implementation of the resolution on reducing the value-added tax.
• The focus is on ensuring the policy implementation to achieve the set objectives without difficulties or budgetary impacts.
• The proposed resolution includes reducing the tax rate by 2% for goods and services currently taxed at 10%, excluding certain categories like telecommunications, information technology, financial activities, real estate, and metal production.

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.

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