Global Daily Tax News, Vietnam Legislates To Extend Cut-Rate VAT, (Jan 6, 2025)
The Vietnamese Government has issued Decree No. 180/2024/ND-CP, providing for an extension to the temporary two percentage point reduction to the country's value-added tax rate during the first half of 2025.
The Decree provides for the continued application of the eight percent concessionary rate, in place of the standard rate.
The lower rate does not apply to information technology, or to the telecommunications, financial services, banking, securities trading, insurance, real estate trading, metals, mining (except coal mining), oil, and chemicals industries, or to excise goods.