Gov’t extends VAT cut till end of this year

10:49 | 18/06/2025PolicyFollow Ven.vn on
VGP - The National Assembly approved a resolution to reduce the Value-Added Tax (VAT) rate by 2 percent till the end of the year, at its ongoing session in Ha Noi on June 17.

Goods and services shall not be entitled to VAT reduction policy including telecommunications, financial activities, banking, securities, insurance, real estate business, metals, mining products (excluding coal mining), goods and services subject to special consumption tax.

The 2 percent reduction in VAT has been introduced since 2022 to aid economic growth following the COVID-19 pandemic.

The Government reported that the VAT reduction may lead to decreases of some VND39.54 trillion (US$1.517 billion) in state budget revenue during the second half of 2025, and about VND82.2 trillion (US$3.087 billion) in 2026./.

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