Government proposes extending VAT cut until year end
The Government has proposed extending the cut in value-added tax (VAT) from 10% to 8% on specific groups of goods and services from July 1 until the end of the year to support business and production activities.
The Government has proposed extending the cut in value-added tax (VAT) from 10% to 8% on specific groups of goods and services. (Photo: baodautu.vn)
Hanoi (VNA) – The Government has proposed extending the cut invalue-added tax (VAT) from 10% to 8% on specific groups of goods and services fromJuly 1 until the end of the year to support business and production activities.
In its proposal sent to the National Assembly, the Ministry of Finance heldthat it is necessary to study and propose relevant measures for 2024, including extending the 2% reduction in VAT, the payment deadline for corporate income tax,special consumption tax and personal income tax, and reduction of several fees andland rental, which were applied in 2023.
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The tax incentive reduced the government revenues by more than 23.48 trillionVND in H1.
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The Government has proposed extending the cut in value-added tax (VAT) from 10% to 8% on specific groups of goods and services. (Photo: baodautu.vn) 
