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%.

Starting on January 1, significant economic policies will come into effect, including regulations on contract-based passenger transport businesses, a six-month reduction in value-added tax (VAT), amendments to the 2019 Law on Tax Administration.

The Law on the Value Added Tax was adopted at the 8th session of the 15th National Assembly (NA) in Hanoi on November 26 and is set to come into force in July next year.

VOV.VN - The National Assembly is scheduled to give opinions and pass 10 bills in the last working week of the seventh session, starting on June 24.

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 value-added tax (VAT) for most of goods and services will be cut by 2% from January 1, 2024.

National Assembly deputies are discussing the results of the supervision of the settlement of voters’ petitions sent to the 15th National Assembly (NA)’s fifth plenary session on November 20 morning, as the NA continues with the second phase of the ongoing sixth sitting.

Consumers and producers are happy to see the implementation of the 2% reduction of value-added tax (VAT) for products starting from July 1.

The Government on June 30 issued Decree No. 44/2023/ND-CP on reducing the value added tax (VAT) in line with the National Assembly’s Resolution No. 101/2023/QH15 dated on June 24, 2023.

The Ministry of Finance has recently put forward a proposal to the government to bring down value-added tax (VAT) from 10% to 8% for a number of goods and services to boost the economy.