The Vietnam National Assembly reportedly approved a resolution on 29 November 2023 for a reduction in the VAT rate from 10% to 8% for a number of goods and services in the first six months of 2024. The reduction is similar to the prior VAT reduction, the most recent of which applies from 1 July 2023 to 31 December 2023. The reduction generally applies for goods and services normally subject to the standard 10% VAT rate, except for certain specified supplies, including telecommunications, banking, mining products, goods and services subject to excise (special sales) tax, etc. A government decree will...