- Reduction of VAT from 10% to 8% is seen as an effective measure to boost domestic consumption in Vietnam.
- Delegates at the 7th session of the National Assembly discussed the need for strong stimulus measures to increase domestic consumption.
- Suggestions were made to continue reducing VAT for at least one year to avoid short-term adjustments and enhance economic stimulation.
- Challenges were raised regarding the complexity of applying tax reduction policies, leading to management costs and delays in implementation.
- Experts warn that extending the tax reduction policy may not have the desired stimulating effect on the economy.
- The decision to extend the VAT reduction policy is crucial to support economic recovery while ensuring tax efficiency as a regulatory tool.
- Continuing the VAT reduction policy is not only feasible but necessary to protect the ongoing economic recovery process.
- Challenges remain in analyzing the impact of tax reduction policies due to limited detailed data, hindering policy design capabilities.
- The extension of the VAT reduction policy is essential to drive economic recovery and support future economic assistance programs.
Source: baochinhphu.vn
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.
