On December 3rd, 2024, the Ministry of Finance issued Official Letter No. 13145/BTC-CST regarding the draft Decree on the policy to reduce the VAT rate by 2%, accordingly:
On November 30th, 2024, the National Assembly passed a Resolution on the 8th session of the 15th National Assembly. In the Resolution, the National Assembly resolved: Continue to reduce the value-added tax (VAT) rate by 2% for groups of goods and services specified in Point a, Section 1.1, Clause 1, Article 3 of Resolution No. 43/2022/QH15 of the National Assembly regarding fiscal and monetary policies to support the socio-economic recovery and development program from January 1st, 2025, to June 30th, 2025. Assign the Government to organize implementation and take responsibility for ensuring the collection task and the ability to balance the state budget in 2025 as decided by the National Assembly.
The Decree guiding the VAT reduction policy is expected to be issued soon and take effect from January 1st, 2025.
