Vietnam Issues Decree Announcing VAT Rate Reduction

The Vietnamese Government June 30 published Decree No. 72/2024/ND-CP, announcing a reduction of the VAT rate to 8 percent from 10 percent for taxpayers. The decree includes: 1) taxpayers not eligible for the reduced VAT rate; and 2) procedures for implementing the VAT reduction, including VAT calculation procedures for specified business establishments. The decree applies from July 1 to Dec. 31. [Vietnam, Government Portal, 06/30/24]

Reference:
View Announcement. View Index.