Vietnam Banks Association proposes to the finance ministry to cut value-added tax by 2 percentage points to 8% for lenders in 1H 2024, according to a posting on the association’s website.
- Banks are struggling as earnings forecast to drop in 2023 and 2024 with rising bad debt as they have been lowering borrowing costs to help businesses at govt request: posting
- NOTE: Govt considers to extend 2-percentage-point cut in value-added tax for companies by six months through mid-2024
- NOTE:
Vietnam to Cut Value-Added Tax to 8% vs 10% July 1: Lao Dong
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