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%) from January 1 to June 30, 2025.
The Ministry of Finance proposed to draft a National Assembly Resolution on reducing value-added tax (VAT) in the first 6 months of 2025.
Accordingly, the Ministry of Finance proposed to reduce the VAT rate by 2%, applicable to groups of goods and services currently subject to a tax rate of 10% (to 8%).
Some groups of goods and services are not included in the tax incentive group: telecommunications, information technology, financial activities, banking, securities, insurance, real estate business, metals, prefabricated metal products, mining products (excluding coal mining), coke, refined petroleum, chemical products, goods and services subject to special consumption tax.
Applicable period from January 1, 2025 to June 30, 2025.
According to the Ministry of Finance, the Resolution is aimed at stimulating consumption, in line with the current economic context.
Thereby promoting production and business activities to recover and develop soon to contribute back to the State budget as well as the economy to implement the 5-year Socio-Economic Development Plan 2021-2025, the Annual Socio-Economic Development Plan, and the Economic Restructuring Plan for the period 2021-2025.
Source: https://baolangson.vn/de-xuat-tiep-tuc-giam-2-thue-vat-6-thang-dau-nam-2025-5028802.html
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