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Official Dispatch No. 67/CST-GTGT dated April 7, 2023 of the Tax Policy Department to the General Department of Taxation and the General Department of Customs on proposing a VAT reduction plan in 2023.

Accordingly, in order to stimulate consumption demand, recovery and economic development, if the case of 2% reduction for goods and services is subject to the tax rate of 10% (remaining 8%) according to the following options:

  • Option 1: Reduce the VAT rate by 2% for the group of goods and services subject to the tax rate of 10% (down to 8%).
  • Option 2: Reduce 2% of the VAT rate for groups of goods and services that are applying the 10% VAT rate (remaining 8%), except for some groups of goods and services as applied in 2022 according to Resolution No. 43/2022/QH15 dated January 11, 2022 of the National Assembly on fiscal and monetary policies to support the socio-economic recovery and development program.

Regarding the implementation time of 02 options: since the policy was issued until the end of December 31, 2023 (expected from July 1, 2023 to the end of December 31, 2023).

Please kindly check attachment file for further reference

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