VAT for goods and services currently subject to the rate of 10% is reduced to 8%, applicable from 1 February 2022 to 31 December 2022

Decree 15 provides a list of exceptional goods and services which are not eligible for the VAT reduction.

The VAT reduction is applicable consistently to all stages including import, manufacturing, processing and trading. But, taxpayers must issue a separate invoice for goods and services eligible for the VAT reduction.

Source: KPMG

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