The National Assembly has agreed to reduce VAT by 2% for the first 6 months of 2025, from January 1, 2025 to June 30, 2025 in Resolution 174/2024/QH15.

Accordingly, Section 8 of Resolution 174/2024/QH15 specifically states:

Continue to reduce 2% of value added tax rate for groups of goods and services specified in Point a, Section 1.1, Clause 1, Article 3 of Resolution No. 43/2022/QH15 of the National Assembly on fiscal and monetary policies to support the Socio-economic Recovery and Development Program from January 1, 2025 to June 30, 2025….

In addition, the Government is assigned to organize implementation and take responsibility for ensuring the collection task and the ability to balance the state budget in 2025 as decided by the National Assembly.

Immediately terminate the validity of the value-added tax exemption provision in Decision No. 78/2010/QD-TTg of the Prime Minister, creating a basis for tax authorities to have a legal basis and sanctions to manage tax collection for foreign e-commerce platforms selling goods into Vietnam.

The groups of goods and services that continue to have a 2% reduction in value added tax rate from January 1, 2025 to June 30, 2025 as prescribed in Point a, Section 1.1, Clause 1, Article 3 of Resolution 43/2022/QH15 are:

Groups of goods and services currently subject to a value added tax rate of 10% (remaining at 8%), except for some groups of goods and services:

Telecommunications, information technology, financial activities, banking, securities, insurance, real estate business,

Metals, fabricated metal products, mining products (excluding coal mining), coke, refined petroleum, chemical products,

Goods and services subject to special consumption tax;