The draft resolution of the National Assembly said that the value added tax rate will continue to be reduced by 2%, applied to groups of goods and services currently applying a tax rate of 10% (to 8%), except for some groups of goods and services.
Some groups of goods and services not subject to reduction include: Telecommunications, information technology, financial activities, banking, securities, insurance, real estate business, metal production and production of prefabricated metal products, mining industry (excluding coal mining), coke production, refined petroleum, production of chemicals and chemical products, goods and services subject to special consumption tax.
Time of application reduced 2% value added tax prescribed in Clause 1 of this Article from July 1, 2024 to December 31, 2024.
The reduction in value-added tax has been applied since 2022 and has created many positive effects for businesses and people.
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