Vietnam MOF Issues Guidance on VAT Rates on Specific Goods and Services Through Dec. 31

The Vietnamese Ministry of Finance Nov. 25 issued guidance on VAT rates for specific goods and services in light of Decree No. 15/2022/ND-CP, effective from Feb. 1 to Dec. 31. The guidance includes that: 1) an 8 percent VAT rate applies to information technology, goods and services subject to excise tax, and telecommunications, financial activities and securities, insurance real estate sales, metal and metal products, and specified mining products and natural resources; 2) an 8 percent VAT rate also applies to goods and services for businesses calculating VAT by the credit method; and 3) 10 percent VAT rate would apply ...