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.