Stimulate production and business, submit to the National Assembly to continue reducing 2% VAT

Stimulate production and business, submit to the National Assembly to continue reducing 2% VAT

VCN - According to the agenda of the 8th Session, at the meeting on the afternoon of November 28, 2024, Deputy Prime Minister Ho Duc Phoc presented the Report on the draft Resolution of the National Assembly on VAT reduction.
Agree to continue reducing VAT by 2%

Agree to continue reducing VAT by 2%

VCN - National Assembly deputies all expressed their agreement with the policy of continuing reducing value-added tax (VAT) by 2% in the first half of 2025, but there needs to be an effective support policy for sustainable development of businesses.
Ministry of Finance proposed to reduce VAT by 2% in the first 6 months of 2025

Ministry of Finance proposed to reduce VAT by 2% in the first 6 months of 2025

The Ministry of Finance proposed to continue reducing 2% of VAT on groups of goods and services currently subject to a tax rate of 10% in the first 6 months of 2025.
VAT reduction is necessary but not tool used every recession: Canadian expert

VAT reduction is necessary but not tool used every recession: Canadian expert

VCN - The main topic of the dialogue session focused on fiscal policy, including two main contents: sharing on fiscal policy management and state revenue forecasting models; sharing experiences on the fiscal risk management framework.
Proposal on VAT reduction in electricity bills unreasonable

Proposal on VAT reduction in electricity bills unreasonable

VCN - At the question and answer session at the 36th Session of the National Assembly Standing Committee on August 21, 2024, the Minister of Finance and Minister of Industry and Trade clarified a number of important contents that the deputies concern rela
Closely follow the situation, research and propose many solutions about taxes and fees to support the economy

Closely follow the situation, research and propose many solutions about taxes and fees to support the economy

Ministry of Finance will continue to coordinate with other ministries to closely monitor the actual situation and forecast the situation of socio-economic development to propose support solutions on taxes and fees
Reporting to the National Assembly for considering VAT reduction in the second half of 2024

Reporting to the National Assembly for considering VAT reduction in the second half of 2024

The Government assigned the Ministry of Finance to summarize and evaluate the results of reducing VAT rates to report to National Assembly for consideration and allowing to implementing in the second half of 2024.
VAT proposed to reduce in the first half of 2024

VAT proposed to reduce in the first half of 2024

VCN - According to the Ministry of Finance Covid-19 pandemic has hit hard all aspects of life, economy and society. In the period 2020-2023, the Government has provided big supportive policies.
Customs guides to urgently implement policy of VAT reduction

Customs guides to urgently implement policy of VAT reduction

VCN - To implement Decree 44/2023/ND-CP of the Government stipulating the policy on VAT reduction according to Resolution No. 101/2023/QH15 dated June 24, 2023 of the National Assembly, the General Department of Customs guides the local Customs Department
Government agrees with MoF’s proposal on 2% VAT reduction

Government agrees with MoF’s proposal on 2% VAT reduction

VCN - On April 17, the Government Office sent a dispatch to the Minister of Finance on the plan to reduce taxes, fees and charges for 2023.
MoF proposes to reduce by 2% VAT rate in 2023

MoF proposes to reduce by 2% VAT rate in 2023

VCN- The option 1, the Ministry proposes to reduce the 2% VAT rate for goods and services subject to a 10% tax rate to 8%.
The Government remove obstacles in the implementation of VAT reduction by 8%

The Government remove obstacles in the implementation of VAT reduction by 8%

The Government has just issued Decree 41/2022/NĐ-CP amending and supplementing a number of articles in order to remove obstacles in the implementation of VAT reduction by 8%.
Steel cable products are not entitled to VAT reduction

Steel cable products are not entitled to VAT reduction

VCN – Facing the proposal for guidance from Rita Vietnam Industry JSC regarding value-added tax (VAT) policy for imported goods under Decree 15/2022/ND-CP, the General Department of Customs said, based on current regulations, steel cable products are not
Inflation will increase but not too much

Inflation will increase but not too much

This is the affirmation of Nguyen Ba Khang, Deputy Director of the National Financial Supervisory Information Center under the National Financial Supervisory Commission
Reducing VAT: consumers and enterprises benefit

Reducing VAT: consumers and enterprises benefit

After more than a month since the application of Decree 15/2022/ND-CP of the Government on reducing value-added tax (VAT), people and businesses have given positive feedback about this reduction.
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