Vietnam's Ministry of Finance has completed a draft resolution for a further reduction in the VAT rate from 10% to 8% for a number of goods and services in the second half of 2024. The reduction is similar to the prior VAT reduction, the most recent of which applies from 1 January 2024 to 30 June 2024. 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. The Ministry has also completed a draft...