Vietnam's National Assembly Standing Committee approves extending a 2% VAT reduction to 8% for certain goods and services until 2024.
Vietnam's National Assembly Standing Committee approves extending a 2% value-added tax (VAT) reduction from 10% to 8% for certain goods and services until the end of 2024, as proposed by the government. The reduction aims to lower production costs, selling prices, and stimulate businesses, despite reducing state budget revenue by 47.5 trillion Vietnamese dong for the year.
June 13, 2024
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