Vietnam proposes 2% VAT cut on select goods, services until 2026 end
Vietnam’s Finance Minister has proposed a 2-per cent reduction in VAT until December 31, 2026, for select goods and services. The reduction will contribute to macroeconomic stability despite potential short-term revenue loss, he said. It is expected to lower the price of goods and services, supporting consumer spending, stimulating consumption and promoting business and production activities.
Vietnam’s Finance Minister has proposed a 2-per cent reduction in VAT until December 31, 2026, for select goods and services.
The reduction will contribute to macroeconomic stability despite potential short-term revenue loss, he said.
It is expected to lower the price of goods and services, supporting consumer spending, stimulating consumption and promoting business and production activities.
