The Government has proposed a 2-percentage-point reduction in the value-added tax (VAT) for goods and services currently taxed at 10%, lowering the rate to 8%.

The Ministry of Justice held a meeting to appraise the draft resolution of the National Assembly on VAT reduction, which was chaired by Deputy Minister Tran Tien Dung.

The Government has proposed extending the cut in value-added tax (VAT) from 10% to 8% on specific groups of goods and services from July 1 until the end of the year to support business and production activities.

The Government Standing Committee has agreed that, in the near term, special consumption tax will not be levied on online games.

The Ministry of Finance has proposed to increase the special consumption tax (SCT) on a number of items harmful to health including tobacco, beer, and alcoholic products to limit imports, production and consumption.

Vietnam will study the imposition of a tax on homeowners and increase taxes on land to prevent speculation and increase the land-use efficiency, as part of a comprehensive tax reform strategy for 2030 which was approved on April 23.

While the reduced environmental protection tax lowered petrol prices from April 1, most transport enterprises are struggling.

The National Assembly (NA) Standing Committee on March 23 passed the resolution on environmental protection tax rates on petroleum, oil and lubricants, which will take effect from April 1 till December 31, 2022.

The Government has issued Decree No.104/2021/ND-CP on the extension of the deadline for special consumption tax payment on domestically-manufactured or assembled automobiles.

The Ministry of Industry and Trade has just released a list of factors that are undermining the development of the electric car industry in Vietnam.