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tax reduction
Officially reduce VAT by 2% in the first 6 months of the year
In the first 6 months of 2025, value added tax (VAT) will be reduced by 2% for a number of groups of goods and services currently subject to a tax rate of 10%.
Submit to the National Assembly for consideration of reducing value added tax
The Standing Committee of the National Assembly agreed to submit to the National Assembly for consideration the decision to reduce value added tax.
Proposal to continue reducing VAT by 2% for the first 6 months of 2025
The Ministry of Finance proposed a 2% reduction in VAT rates, applicable to groups of goods and services currently subject to a 10% tax rate (to 8%).
Donald Trump promises to reduce taxes on American cars and 'tighten' foreign cars
During his election campaign, Donald Trump pledged to offer tax incentives for buying domestically produced cars, while cracking down harder on cars from abroad, especially those from Asia.
Instructions on tax exemption and reduction for individuals, business households and enterprises affected by storms and floods
Individuals and businesses affected by storms and floods will receive reductions in personal income tax, special consumption tax and resource tax.
Tax exemption for people and businesses affected by storm No. 3
Personal income tax (PIT), corporate income tax (CIT), special consumption tax (SCT), value-added tax (VAT) deduction, resource tax, non-agricultural land use tax... will be exempted, reduced, or extended due to the impact of storm No. 3.
Hanoi exempts taxes for people affected by storm No. 3
Hanoi Tax Department informs businesses and taxpayers about tax extension, exemption and reduction policies for many cases affected by storm No. 3.
Budget deficit of nearly 20,000 billion VND due to reduction in environmental tax on gasoline
State budget revenue in 7 months decreased by nearly 20,000 billion VND due to the policy of reducing environmental protection tax on gasoline.
Which items are not eligible for VAT incentives?
From July 1 to December 31, 2024, the 2% VAT reduction policy under Decree 72/2024/ND-CP dated June 30, 2024 of the Government will take effect. However, there are some items that are not eligible for VAT incentives.
Implementing value added tax reduction for taxpayers
On July 1, the General Department of Taxation announced that it had sent a telegram to local tax departments regarding the implementation of Decree No. 72/2024/ND-CP dated June 30, 2024, stipulating the policy of reducing value-added tax according to Resolution No. 142/2024/QH15 dated June 29, 2024 of the National Assembly.
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