- Government proposes a 2 percent VAT reduction for the first half of 2025
- National Assembly to review the proposal aimed at boosting economic growth
- New VAT policy would cover all goods and services except telecommunications, financial activities, banking, securities, insurance, real estate trading, metal products, mining products, refined petroleum, chemical products, and goods and services with special consumption tax
- Implementation of this VAT cut could lead to a budget deficit of approximately VND26.1 trillion or over USD1.02 billion
- The 2 percent VAT reduction initiative started in 2022 to support economic recovery post-Covid-19 pandemic
Source: en.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.
