- Vietnamese Ministry of Finance is seeking comments on a draft proposal to reduce the VAT rate
- The proposal aims to reduce the VAT rate to 8 percent for goods and services currently taxed at 10 percent
- The reduction would be effective from Jan. 1, 2024, through June 30, 2024
- Certain goods and services, such as those subject to special consumption tax and those in specific industries, would be excluded from the reduction
Source: news.bloombergtax.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
