Ho Chi Minh City Customs Department proposed that the Ministry of Finance advise the Government to apply a reduction in the Value Added Tax (VAT) rate by 2% for all groups of goods and services currently subject to the 10% VAT rate, to be uniform at the stages of import, production and consumption. According to Ho Chi Minh Customs Department, during the implementation of the Decree on VAT reduction, a number of difficulties and problems arose related to identifying and distinguishing goods and services that are not eligible for VAT reduction from goods that are subject to VAT reduction. In order to...
EXPORTS DOWN 12% IN FOUR MONTHS
Vietnam's exports totaled $108.57 billion in the first of four months of this year, a year-on-year decrease of 11.8%, the General Statistics Office announced. Some $96.1 billion, or 88.5% of the turnover, came from processed industrial products. ...