Proposal to continue reducing value added tax by 2%

According to the draft, the 2% reduction in VAT rate applies to groups of goods and services currently subject to a tax rate of 10% (remaining at 8%), except for the following groups of goods and services: Telecommunications, financial activities, banking, securities, insurance, real estate business, metal products, mining products (except coal), goods and services subject to special consumption tax (except gasoline). The period of application of the 2% VAT reduction prescribed above is from July 1, 2025 to December 31, 2026.

According to the Ministry of Finance, the National Assembly has decided to reduce the VAT rate by 2% (from 10% to 8%) in the 2022-2024 period and in the first 6 months of 2025.

THANH HONG

Source: https://baobinhduong.vn/de-xuat-tiep-tuc-giam-thue-gia-tri-gia-tang-2--a344282.html