VOV.VN - Deputies to the National Assembly on June 29 approved a resolution extending the existing VAT reduction policy for another six months till the end of 2024.
The resolution received the support of all deputies attending the plenary session on June 29 which was also the last working day of the seventh session.
Under the existing policy, the 8% VAT applies to all lines of goods and services, except for telecommunications, information technology, finance-banking activities, securities, insurance, real estate business, metals, prefabricated metal products, mining products (excluding coal mining), coke, refined petroleum, chemical products, as well as goods and services subject to special consumption tax.
The extension of the 2% tax reduction period will lead to a reduction of about VND24 trillion in budget revenue in the second half of this year, along with nearly VND23.5 trillion in the first half.
The Government that made the proposal believes that such a policy will contribute to reducing costs and selling prices of goods and services, thereby helping to promote production and business and maintain jobs for workers, as well as macroeconomic stability and economic recovery.
VOV.VN - Members of the National Assembly Standing Committee on June 13 agreed with the Government’s proposal to extend the policy of reducing the value added tax (VAT) from 10% to 8% till the end of the year as opposed to the end of June.
The Ministry of Justice held a meeting to appraise the draft resolution of the National Assembly on VAT reduction, which was chaired by Deputy Minister Tran Tien Dung.
VOV.VN - The National Assembly on November 19 approved a resolution to extend the ongoing policy of reducing the value added tax (VAT) on selected lines of products and services from 10% to 8% for another six months till June 30, 2024.
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