NA adopts resolution on VAT reduction, revised law on enterprises
From July 1, 2025 to December 31, 2026, the VAT rate will be reduced to 8% from 10% for goods and services specified in Clause 3, Article 9 of the Law on VAT No. 48/2024/QH15.
The legislature adopts the resolution on VAT reduction with 452 deputies present voting in favour, accounting for 94.56% of the total. (Photo: VNA)
Hanoi (VNA) – The 15th National Assembly (NA) voted to pass a resolution on value-added tax (VAT) reduction, and a law amending and supplementing a number of articles of the Law on Enterprises on June 17 morning, part of its ongoing 9th session.
The legislature adopted the resolution on VAT reduction with 452 deputies present voting in favour, accounting for 94.56% of the total.
According to the resolution, scheduled to be effective from July 1, 2025 to December 31, 2026, the VAT rate will be reduced to 8% from 10% for goods and services specified in Clause 3, Article 9 of the Law on VAT No. 48/2024/QH15, except for the following groups: telecommunications, finance, banking, securities, insurance, real estate, metal products, mineral products (except coal), and goods and services subject to the special consumption tax (except petrol).
Compared to the previous resolutions, the new one expands the coverage of the VAT cut to transportation, logistics, and IT products and services.
The Government reported that the VAT reduction may lead to decreases of some 39.54 trillion VND in state budget revenue during the second half of 2025, and about 82.2 trillion VND in 2026. However, the move is expected to boost production and business activities, thereby helping to drive revenue sources for the state budget.
Meanwhile, 455 lawmakers, or 95.19% of the deputies present at the plenum, voted in favour the law amending and supplementing a number of articles of the Law on Enterprises.
The amendment law, whi💮ch consists of three articles, will come into effect from July 1, 2🐠025./.
Discussions centred on appointments to the NA Ethnic Council and the NA Committee on Deputy Affairs, as well as personnel proposals to be submitted for consideration at the 15th NA’s ongoing ninth session.
452 lawmakers, or 94.56% of the total number of deputies present, voted in favour the revised Law on Corporate Income Tax, while the amended Excise Tax Law was adopted with 448 out of 454 deputies present voting in favour, accounting for 93.72% of the total.
The National Assembly (NA) Standing Committee has endorsed a proposal that non-public companies issuing bonds via private placement must maintain a debt-to-equity ratio of no more than five, including the value of the bonds to be issued.
The Vietnamese Embassy in Israel has advised Vietnamese people living there to proactively prepare and seek ways to leave the country via land border crossings, especially toward Jordan or Egypt, when security and safety conditions allow.
Vietnam and New Zealand are working toward a breakthrough to achieve a bilateral trade target of 3 billion USD by 2026. Education and training will remain a key pillar of the Comprehensive Strategic Partnership, with diverse joint programmé and attractive scholarships to build a high-quality workforce for the future.
Responding to concerns from international reporters about the potential impact of the reform scheme on the business environment, Deputy Minister of Finance Ho Sy Hung emphasised that the changes will not pose obstacles to investment or business operations.
India and Can Tho city agreed to enhance multi-sector bilateral cooperation at a working session on June 17 between municipal leaders and Indian Ambassador to Vietnam Sandeep Arya.
Assoc. Prof. Phan Thi Hong Xuan, Chairwoman of the Ho Chi Minh City’s Vietnam–Southeast Asia Friendship Association described the event as a reflection of the enduring solidarity between the two nations and a shared commitment to a future of deeper, long-term cooperation within the ASEAN community.
Deputy Prime Minister and Minister of Foreign Affairs Bui Thanh Son described Australia as one of Vietnam’s most trusted and important partners in the region, with high level of political trust and shared strategic vision on key issues.
Instead of relying solely on ticket revenues, investors may be granted rights to exploit land around railway stations and urban areas, thereby generating resources for reinvestment, accoding to the draft revised law.
The reforms included the NA’s resolution on the amendments and supplements to several articles of the Constitution of the Socialist Republic of Vietnam, the revised Law on Organisation of Local Government, and the ordinance amending and supplementing Article 10 of the Population Ordinance.
During the session, Nguyen Thi Quyen Thanh, a deputy from the Mekong Delta province of Vinh Long, proposed that the drafting committee further specify support policies to further encourage and facilitate the participation of women in UN peacekeeping missions.
As of the morning of June 16, there have been no reports of Vietnamese citizens injured or killed in the recent waves of attacks and clashes between Israel and Iran.
Vietnamese Ambassador to Australia Pham Hung Tam said he hopes that the Canberra administration will continue welcoming Vietnamese delegations for visits and working sessions, viewing such exchanges as vital for enhancing cooperation and understanding between the two nations.
The Law on Teachers not only provides teachers with greater peace of mind to dedicate themselves to the cause of education and contribute to improving the quality of the nation’s education system, but also promotes the role and status of teachers in modern society.
Hanoi should be developed as a hub of innovation, finance, technology, and culture, imbued with Vietnam’s unique identity while deeply integrated into the global urban network, thus shaping the image of a green, smart, livable, and internationally attractive capital, said Party chief To Lam.
