05.02.23

2 % VAT reduction on Standard VAT rate for 2023

The Vietnamese government has approved tax reductions for 2023. As a result of this new approval, 2% VAT reductions will be applied to goods and services subject to 10% VAT until December 31, 2023.    

This reduction is designed to help businesses cope with rising interest rates, poor liquidity, and higher logistics prices, as well as boost the economy.