Vietnam Proposes Further Extension of VAT Rate Reduction for Q3, Q4

The Vietnamese Government May 2 announced that it submitted a proposal to the National Assembly to further extend the application of the 2 percent VAT rate reduction for specified goods and services to Dec. 31 from June 30. The reduction would apply to goods and services other than those related to telecommunications, financial or banking activities, securities, insurance, real estate sales, metal, precast metal products, refined oil, chemical products, goods and services subject to excise tax, and mining products other than coal. [Vietnam, Government Portal, 05/02/24]

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