Value-added tax (VAT) reduction on goods and services

From 1st July, the 2% reduction in value added tax (VAT) for some groups of goods and services will be extended until the end of the year in Viet Nam.

This means that VAT will be kept at 8%.Sectors that will continue to receive no tax reductions include telecommunications, financial activities, banking, securities, insurance, real estate business, mining products, chemical products, information technology, and goods and services subject to special consumption tax.

The reduction in value-added tax for each type of goods and services is applied uniformly at import, production, processing, and commercial businesses.