Vietnamese Government considers extending VAT reduction to mid-2024
The extension will result in individuals' savings in spending and living expenses, potentially stimulating demand and boosting consumption.
The extension will result in individuals' savings in spending and living expenses, potentially stimulating demand and boosting consumption.
A 2% rate cut in the value-added tax (VAT) would cause a decline of VND49.4 trillion (US$2.1 billion in state budget revenue, but is necessary to support socio-economic recovery.