2% VAT reduction extends to end of 2026
The reduction applied for goods and services currently taxed at 10%, with some exceptions.
Government proposes 2% VAT cut for first half of 2025
Incentive aimed at supporting business and production activities.
Finance ministry proposes 2% VAT reduction for first half of 2025
The policy aimed at supporting businesses and stimulating the economy.
NA agrees 2% VAT reduction from July 1
The incentive lasting through December 31, 2024.
NA agrees to 2% VAT reduction in 1H 2024
The cost to the State budget has been estimated at over $1 billion.
2% VAT reduction in effect from July 1
Policy aimed at supporting businesses and individuals and boosting consumption.
NA agrees to further 2% cut to VAT
Latest reduction in place until December 31, 2023.
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.
New policies taking effect from February
A range of new policies are taking effect during February, such as those on VAT reductions, origin of goods, increased fees for conditional business appraisal in the seafood sector, strengthened judicial assessment in seafood, and land use levy exemptions for people with meritorious service, among others.
Certain goods and services to see VAT reduced
The Ministry of Finance will implement government Decree No. 15 from February 1 on tax exemptions and reductions to support socio-economic recovery and development. Many goods and services are entitled to a VAT reduction of 8 per cent, which is estimated to cost VND49.4 trillion ($2.18 billion).