Deputy Prime Minister Le Minh Khai agreed in principle that the Ministry of Finance would report to the Government for submission to the National Assembly and the National Assembly Standing Committee for consideration and permission to formulate and issue a National Assembly's Resolution on value-added tax reduction.
In 2023 the Ministry of Finance proposes to reduce the VAT rate by 2% for all goods and services subject to the 10% tax rate (to 8%); reduce 20% of the percentage rate to calculate VAT for business establishments (including business households and business individuals) when issuing invoices for all goods and services subject to tax liability 10% VAT.
Follow this plan to ensure the right target of stimulating consumption demand, in line with the current economic context, thereby promoting production and business activities to recover and develop soon to contribute back to the country's economy. State budget as well as the economy. The period of application of this policy is from the date of its issuance to the end of December 31, 2023.