Legal News

[Taxation] Government Approves Proposal to Prepare a Resolution on VAT Tax Reduction through the End of 2024.

2024/06/06

As per our May 9, 2024 newsletter, the government submitted a proposal to the National Assembly to continue the tax reduction policy for goods and services currently subject to 8% under the VAT tax reduction policy for the six-month period from July 1 to December 31, 2024.

Subsequently, on May 28, the government issued Resolution No. 81/NQ-CP, approving the proposal to draft a parliamentary resolution on VAT tax reduction until the end of 2024. The Ministry of Finance will now prepare a draft of the parliamentary resolution and submit it to the Ministry of Justice along with related documents.

The draft resolution on VAT tax reduction from July to December 2024 is expected to be approved at the 7th session of the 15th National Assembly.
As soon as the draft resolution on VAT tax reduction is officially announced, we will update it in future Legal News.

References
Draft Resolution No. 81/NQ-CP dated May 28, 2024.