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tax reduction
Why does the Government propose to reduce VAT?
The National Assembly Standing Committee has just discussed the draft Resolution of the National Assembly on reducing value-added tax (VAT). According to the Government, the proposal to expand the subjects of VAT reduction aims to support increased purchasing power, stimulate consumption, domestic tourism...
US may cut 50% of tariffs on China
The WSJ said the US is considering cutting tariffs on Chinese goods by up to half, but CNBC sources said this would only happen if Beijing also lowers trade barriers.
The Government proposes to continue reducing value added tax until the end of 2026
The Government proposes to reduce the value added tax rate by 2% for groups of goods and services currently subject to a tax rate of 10% (to 8%), except for some groups of goods and services.
Trump postpones 90-day tariffs on countries except China
US President Donald Trump announced a tax reduction to 10%, a 90-day delay, but only for some countries that "do not retaliate", while China's tax was increased to 125%.
Prime Minister: Study to further reduce taxes, increase imports from the US
To solve the problem, Prime Minister Pham Minh Chinh requested research to further reduce taxes and review goods that Vietnam needs to increase imports.
Cambodia immediately reduces tariffs on 19 types of products imported from the US
Cambodia pledged to boost product imports from the US by immediately reducing 19 product categories from a maximum bound tariff of 35% to an applied tariff of 5%.
Mr. Trump stated conditions for tax reduction
President Trump said the decision to impose tariffs puts the US in control of the situation, emphasizing that whether tariffs are reduced or not depends on what partners bring to the US.
The US will negotiate with all trading partners on tariff reduction measures.
Countries will have to change their rules to allow more imports of US products to lessen the impact of these tariffs, according to US Commerce Secretary Lutnick.
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.
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