On November 29, 2023, the National Assembly passed the Resolution of the 6th session of the 15th National Assembly, which includes continuing to reduce value added tax from January 1, 2024 to June 30, 2023. 2024, specifically as follows:
In Article 3.1 Resolution 43/2022/QH15: Reducing 2% of value-added tax rate, applicable to groups of goods and services that are currently subject to a tax rate of 10%, except for goods and services in one category. Certain fields: Telecommunications, information technology, Financial activities, banking, securities, insurance, Real estate business, Metal production and production of prefabricated metal products, industry Mining (excluding coal mining), Production of coke, refined petroleum, Production of chemicals and chemical products, goods and services subject to special consumption tax.
The resolution assigns the government to organize the timely implementation of VAT reduction, ensuring it does not affect collection and payment in excess of the state budget in 2024.