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Subscribe to
The Saigon Times

Saigon Times Group is a leading Vietnamese media organization with prestigious business and consumer publications. After three decades of development, we have built a good reputation through our publications on economy, business and markets for Vietnamese and foreign readers.

Basic

Free

  • Free access to daily domestic news, podcasts and videos

Premium

$5 $1 /month
(VND 23,900)
Monthly Annual

  • Unlimited access to domestic news, podcasts, videos and magazine articles on current social / economic / trade / investment issues, commodity / financial/securities markets, M&A activity, FDI, local and foreign business communities and more.

AUTOMATIC RENEWAL REMINDER

  • Your payment method will then be automatically charged ₫ 899.000 every 365 days thereafter.
  • Your subscription will continue until you cancel.
  • You can cancel by using My account. Under My account, select "Unsubscribe" and then follow the instructions to cancel.
  • You can notify us of your intent to cancel at any time during your billing period. Cancellations take effect at the end of your current billing period.
28.9 C
Ho Chi Minh City
Saturday, July 12, 2025

Value added tax reduced until middle of next year

The Saigon Times

Must read

HCMC – Goods and services except for some sectors will be entitled to a two-percentage-point reduction of value-added tax (VAT) until the middle of the year 2024.

According to a decree recently issued by the Government following the National Assembly’s Resolution, the incentive VAT rate of 8% on goods and services will remain till the end of June next year. However, sectors such as banking, securities, real estate, and telecommunications will continue to be excluded from this VAT reduction.

This VAT reduction applies uniformly throughout all stages, from importation and production to processing and trading. Goods and services not eligible for VAT or subject to a 5% VAT rate will adhere to existing regulations and are not entitled to a VAT cut.

In the face of both local and global economic challenges, the Government sees the VAT cut as a crucial measure to provide support to businesses and households.

Previously, a two-percentage-point VAT reduction was implemented on July 1, 2023 on numerous goods and services previously taxed at a rate of 10%.

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