From July 1, 2024, business entities will officially continue to apply the VAT reduction policy to 8% according to Decree 72/2024/ND-CP issued by the Government following Resolution 142/2024/QH15 dated June 29, 2024, of the National Assembly.
=> See more: Factors affecting land prices according to Decree 71/2024/NĐ-CP
Specifically, a 2% reduction in VAT will continue for groups of goods and services stipulated in Resolution 43/2022/QH15 of the National Assembly on fiscal and monetary policies supporting the Economic and Social Recovery and Development Program from July 1, 2024, to December 31, 2024.
Thus, the 2% VAT reduction will be applied to groups of goods and services currently subject to a 10% VAT rate (reduced to 8%), except for the following groups of goods and services:
Photo 1: 2% VAT Reduction from July 1, 2024 _Hotline: 0972118764
- Telecommunications and information technology services
- Financial, banking, and securities services
- Insurance services
- Real estate business services
- Metals, fabricated metal products, mining products (excluding coal mining), coke, refined petroleum, chemical products, and goods
- Services subject to special consumption tax
The National Assembly assigned the Government to organize the implementation of policies to ensure the achievement of the set goals. The Government is responsible for managing and executing the revenue tasks without affecting the revenue estimates and the state budget deficit in 2024 according to the resolution of the National Assembly.
=> See more: New regulations on implementing investment projects using land from July 26,2024
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