Vietnam's National Assembly Approves VAT Rate Reduction as Part of Relief Package to Support Growth and Recovery from COVID-19
On 11 January 2022, Vietnam's National Assembly approved a resolution providing a package of relief measures meant to support growth and recovery from the effects of the COVID-19 pandemic. One of the key measures is a 2% reduction in the standard VAT rate from 10% to 8%, which is effective from 11 January to 31 December 2022. As approved, however, certain activities/supplies are excluded from t…
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