On June 8, 2024, Vietnamese Government officially issued Resolution No. 83/NQ-CP on the National Assembly's Resolution project on value added tax (VAT) reduction as proposed by the Ministry of Finance in Report No. 127/TTr-BTC If we continue to implement the VAT reduction policy in the last 6 months of the year, the expected budget in 2024 will decrease by VND 47,488 billion; however, this policy will have a positive effect by stimulating production and promoting business activities, thereby generating revenue for the state budget.. The 2% VAT reduction policy is applied to goods and services currently subject to 10% VAT ( 10...
