Morning news 3/25: Proposal to continue reducing VAT by 2% until the end of 2026; USD price in banks increases sharply

thuế VAT - Ảnh 1. — People come to do VAT procedures at the Ho Chi Minh City Tax Department - Photo: TTD

Proposal to continue reducing VAT by 2% until the end of 2026

The Ministry of Finance is seeking comments on the National Assembly's draft resolution on reducing value-added tax (VAT) to stimulate consumption, thereby supporting people and businesses and promoting production and business activities.

Accordingly, the Ministry of Finance proposed to reduce the VAT rate by 2% for some groups of goods and services with a tax rate of 10% to 8%, except for telecommunications services, banking, securities, insurance, real estate business, metal products, mining products, etc.

The 2% VAT reduction will be applied from July 1, 2025 to December 31, 2026. The budget revenue is expected to decrease by about VND 121,740 billion.

The Ministry of Finance considers that continuing to reduce VAT by 2% is really necessary. Because this policy contributes to directly reducing people's costs when consuming goods and services. Thanks to that, people shop and spend more, thereby promoting production and business and creating more jobs for workers, contributing to economic growth this year and the following years.

Also according to the Ministry of Finance, from 2022 to the first 6 months of this year, the National Assembly has resolved to reduce the VAT rate by 2% for some groups of goods and services with a tax rate of 10% to 8%.

Today, full-time National Assembly delegates gave their opinions on many important bills.

This morning, March 25, the 7th Conference of full-time National Assembly deputies took place to discuss a number of contents submitted to the National Assembly at the 9th session of the 15th National Assembly.

According to the program, after the opening speech of National Assembly Chairman Tran Thanh Man, full-time National Assembly deputies will discuss and give comments on a number of draft laws.

On the morning of March 25, the conference will discuss the Law on Digital Technology Industry; the Law on Chemicals (amended); the Law on amending and supplementing a number of articles of the Law on Technical Standards and Regulations. In the afternoon of the same day, the conference will discuss the Law on Teachers; the Law on Employment (amended).

On the morning of March 26, the conference discussed the Law on Special Consumption Tax (amended); the Law on Corporate Income Tax (amended). In the afternoon, delegates discussed the Law on amending and supplementing a number of articles of the Law on Product and Goods Quality and the Law on amending and supplementing a number of articles of the Law on Advertising...

Bank USD price increased sharply

thuế VAT - Ảnh 2. — The reference exchange rate between Vietnamese Dong and USD listed at the State Foreign Exchange Reserve Management Department is 23,640 - 26,022 VND (buy - sell) - Photo: HOANG GIAM

The State Bank announced the central exchange rate between the Vietnamese Dong and the USD at 24,831 VND, an increase of 18 VND compared to the end of last week.

With a margin of 5%, commercial banks are allowed to buy and sell USD in the range of 23,589 - 26,072 VND. The reference exchange rate between VND and USD listed at the State Foreign Exchange Reserve Management Department is 23,640 - 26,022 VND (buy - sell).

In line with the trend, banks have sharply increased USD trading prices. Vietcombank listed USD buying and selling prices at 25,420 - 25,810 VND, up 50 VND in both directions. BIDV listed USD buying and selling prices at 25,460 - 25,820 VND, also sharply increasing compared to the end of last week. Techcombank listed USD buying prices at 25,414 VND and selling prices at 25,846 VND, up 35 VND.

On the contrary, the free market session on March 24 was quite stable. Accordingly, foreign exchange points listed the USD buying price at 25,810 VND, unchanged from the previous day, while the selling price decreased by 10 VND, bringing the USD price down to 25,900 VND.

Chairman of Thu Duc Water Supply Company resigns

On March 24, Thu Duc Water Supply Joint Stock Company announced that it had received the resignation letter from Mr. Nguyen Tong Dang Khoa from the position of member of the board of directors and chairman of the board of directors.

In his resignation letter, Mr. Khoa said he was elected to the position of member of the board of directors from April 2022. He was then elected to the position of chairman of the board of directors.

However, according to the assignment of Saigon Water Corporation, Mr. Khoa will receive a new assignment at another unit. Therefore, Mr. Khoa wants to resign from the positions he is holding at Thu Duc Water Supply Joint Stock Company from April 17.

According to the company, the dismissal and election of additional members of the Board of Directors will be carried out at the 2025 Annual General Meeting of Shareholders.

Zoo offers free admission to visitors wearing traditional costumes for 2 days

thuế VAT - Ảnh 3. — On the occasion of Hung King's death anniversary, people wearing traditional costumes to the zoo will get free tickets - Illustration: THANH HIEP

According to information from the Saigon Zoo and Botanical Garden's leadership, during the first two days of the "Fragrance and beauty of three regions" folk culture festival (April 2 and 3), people wearing traditional costumes of various ethnic groups will receive free admission to the zoo.

The festival is held from April 2 to 7 on the occasion of the Hung Kings' death anniversary; the 50th anniversary of the liberation of the South and national reunification (April 30, 1975 - April 30, 2025) and the 139th anniversary of International Labor Day.

Coming to the festival, people can explore the beauty of traditional craft villages, Vietnamese folk art and traditional cuisine of the three regions...

Also in April, the zoo organized many attractive programs such as: Photo contest "Marks of time - Zoo past and present"; Idea and suggestion contest "Zoo full of love"; Folk art of cutting silhouettes, making clay figurines, arranging coconut leaves; Ornamental flower exhibition - Workshop to learn about ornamental leaves and herbs; Music program with the theme "The country is full of joy".

In particular, the "When Night Falls" tour is an opportunity for visitors to explore the habits of nocturnal animals at the Zoo...