Tax & Legal updates - Decree No.72/2024/ND-CP stipulates the tax reduction of Value Added Tax ("VAT") policy

On 29 June 2024, the National Assembly has passed the proposal to continue the reduction of Value Added Tax (“VAT”) rate for most of goods and services, which are currently subject to the tax rate of 10%, under Resolution No. 142/2024/QH15.

The Government has just officially released Decree 72/2024/ND-CP (“Decree 72”) dated June 30, 2024, which outlines the VAT reduction extension to the last 06 months of 2024 per Resolution 142/2024/QH15. Overall, Decree 72 remains largely similar to previous VAT rate reduction Decrees.

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Download the full documents in below.

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*Disclaimer:

This is a guide from Forvis Mazars in Vietnam to update the latest developments in tax, accounting and investment environment in Vietnam. The information and analysis or comments herein are of the generic nature and are quoted or interpreted from the regulations. We recommend that the clients contact Forvis Mazars Vietnam’s advisors for further clarification and professional advice for each particular circumstance.

Documents

[ENG] Forvis Mazars in Viet Nam_​ Tax Alert_​Decree No.722024ND-CP stipulates the tax reduction of Value Added Tax (VAT) policy effective for the last 06 months of 2024
[VIE] Forvis Mazars Việt Nam_​ Tin thuế_​Nghị định số 722024NĐ-CP quy định về việc giảm thuế của chính sách thuế giá trị gia tăng (GTGT) có hiệu lực trong 06 tháng cuối năm 2024

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