The National Assembly heard a report on the draft Resolution on reducing value-added tax (VAT), with the Minister of Finance presenting the proposal. The proposal suggests extending the 2% VAT reduction, bringing the rate from 10% to 8% for most goods and services, excluding some specific categories. This policy aims to support businesses by lowering production costs and increasing profits amidst economic challenges, aligning with the socio-economic development goal of 8% growth in 2025. The reduced VAT rate is proposed to be effective from July 1, 2025, to December 31, 2026, with the government tasked to ensure transparent and effective implementation.
Source: baochinhphu.vn
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