NA agrees to 2% VAT reduction in 1H 2024
The cost to the State budget has been estimated at over $1 billion.
Topic: VAT
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.
MoF proposes cuts to oil and gasoline taxes
The Ministry of Finance (MoF) issued Official Letter No. 9691/BTC-CST to ministries and branches on September 23, seeking opinions on a draft Resolution from the National Assembly on reducing the special consumption tax (SCT) on gasoline and VAT on oil and gasoline.
Cuts to gasoline excise taxes and VAT in pipeline
Deputy Prime Minister Le Minh Khai has directed the Ministry of Finance to continue calculating plans to cut excise taxes and VAT on gasoline, carefully assessing the impact on the State budget and making preparations if feasible.
MoF proposes cutting 4 taxes to ease gasoline prices
In the tax structure for calculating gasoline prices, the Ministry of Finance (MoF) has proposed reducing rates on four types of taxes, including most favored nation (MFN), environmental protection, excise, and VAT. Although the reductions to excise taxes and VAT have not been announced, these are expected to stop the record increase in gasoline prices.