Vietnam has reduced its VAT rate from 10% to 8% from July 2023 to December 2023. After dealing with an economic slowdown, this 2% reduction aims to bolster stimulus measures to support consumption and business growth. Goods and services currently subject to the VAT rate of 10% will benefit from a reduced VAT rate of 8%.
- Vietnam reduces VAT rate
- Exception to the new reduced rate
- How will the reduced VAT rate boost Vietnam’s economy?
- Adapting to the rate change
- Effortless VAT processes with VAT IT
Source: blog.vatit.com
