- Proposal to continue reducing value-added tax by 2% until 31/12/2024
- Ministry of Finance is proposing to build a Resolution of the National Assembly on reducing value-added tax by 2%
- Aim is to stimulate consumer demand and promote economic activities to contribute to the state budget and economic development
- Proposal includes reducing 2% tax rate on goods and services currently taxed at 10%
- Some exempted goods and services include telecommunications, information technology, financial activities, real estate, metals, mining products, etc.
- Reason for this solution is to balance the input and output tax amounts
- Implementation of tax reduction has been stable in previous years
- Expected to be applied from 01/07/2024 to 31/12/2024
- Previous resolutions have already reduced tax rates for certain goods and services
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.
