Vietnam: VAT rate reductions
The regular VAT rate of 10% is reduced to 8% from 1 February 2022 until the end of 2022. The rate for the following services has not been reduced:
→ Telecommunications, financial activities, banking activities, securities, insurance, trading of real estate, metal and precast metal products, mining products (excluding coal mining), coke mining, refined oil, chemical products.
→ Goods and services subject to excise tax.
→ Information technology as prescribed in the law on information technology.
For the latest global VAT insights from all over the world, please see: Global VAT Newsletter #2/2022