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Covid-19 VAT measures proposed by Ministry of Finance

  • Exemption from VAT in third and fourth quarter of 2021
  • Reduce VAT rate by 30% (for taxpayers adopting the deduction method) or by 30% of the deemed VAT percentage (for taxpayers adopting the deemed method) from 1 October 2021 through 31 December 2021 for business sectors such as transportation, accommodation services, catering services, etc.

Source: KPMG

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