A draft government decree reduces value-added tax on many products and services from the current 10 percent to 8 percent from Feb. 1. The lower VAT rate will not apply to telecommunications, information technology, financial activities, banking, securities, insurance, real estate, metal and prefabricated metal products, mining (excluding coal), coke, refined petroleum, chemicals and chemical products, and goods and services subject to excise tax.
Source: vnexpress.net
