NA agrees 2% VAT reduction from July 1
The incentive lasting through December 31, 2024.
Topic: VAT
Vietnam's Ministry of Finance Proposes VAT Reduction to Bolster Economic Recovery
Amidst the enduring challenges of the Covid-19 pandemic, Vietnam's Ministry of Finance unveils proposals to alleviate economic strains through targeted VAT reductions. As businesses navigate the path to recovery, policymakers seek a delicate balance between stimulating economic growth and ensuring fiscal stability.
Government agrees to VAT cut of 2% in 1H 2024
Reductions to take effect from January 1 until June 30.
NA agrees to 2% VAT reduction in 1H 2024
The cost to the State budget has been estimated at over $1 billion.
VCCI calls for 2% VAT cut to be extended to all products and services
Finance ministry plans limit reductions to certain commodities only.
Government plans to extend VAT cut into 2024
Cut of 2% aimed at helping businesses overcome the ongoing difficulties and will be extended to the middle of next year.
NA agrees to further 2% cut to VAT
Latest reduction in place until December 31, 2023.
2% VAT reduction proposed for all goods and services
Cut would help give consumption a boost.
Finance ministry proposes 2% VAT cut
Cut would give a further boost to economic development.
Vietnam should maintain fiscal support into 2023
Businesses, individuals, and the economy in general still face a host of difficulties and challenges and continued support is warranted.