Resolution No. 204/2025/QH15 dated June 17, 2025 by the National Assembly on Value Added Tax (VAT) Reduction
On June 17, 2025 – At its 9th session, the 15th National Assembly officially passed Resolution No. 204/2025/QH15 on the reduction of Value Added Tax (VAT), continuing to support enterprises and promote domestic consumption.
Accordingly, the VAT rate will be reduced by 2%, from 10% to 8%, applicable to groups of goods and services as prescribed in Clause 3, Article 9 of the VAT Law No. 48/2024/QH15. However, the following sectors are excluded from the reduction:
- Telecommunications
- Financial, banking, securities, and insurance activities
- Real estate business
- Metal products and mined products (excluding coal)
- Goods and services subject to special consumption tax (excluding gasoline)
Effective period: From July 1, 2025 to December 31, 2026.
The Government will issue detailed guidance on the implementation of this resolution.
Please refer to the attached file for detailed information.
