03.23.22
Temporary reduction in VAT standard rate
The Vietnamese government released Decree 15/2022/ND-CP on 28 January 2022 providing tax exemptions and reductions under Resolution 43/2022/QH15, this aims to support social-economic recovery and development.
One of the key points of this Decree is the temporary reduction on the standard VAT rate:
- The VAT for goods and services is reduced from 10% to 8%.
- This change will be effective from 1 February 2022 to 31 December 2022.
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Temporary reduction in VAT standard rate
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