- VAT tax in Vietnam has been reduced from 10% to 8% until June 2024.
- The reduction does not apply to certain sectors such as telecommunications, finance, real estate, and chemicals.
- The previous VAT reduction in 2022 cost Vietnam’s state budget around VND 49.4 trillion (US$2.2 billion).
- The current reduction is expected to follow similar principles as previous reductions.
Source: vietnam-briefing.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.
