Reduction of 2% VAT rate until the end of December 31, 2022
28/02/2022
(binhthuan.gov.vn) According
to the Provincial Tax Department, conducting Resolution no. 43/2022/NQ-QH15 of
the Government on fiscal and monetary policies to support the program of
socio-economic recovery and development (Resolution 43) and Resolution no. 15/2022/ND-CP
on detailing the implementation of the tax exemption and reduction policy under
Resolution 43, the value-added tax (VAT) rate will be reduced by 2% in 2022.
Specifically, the policy
of 2% VAT reduction will be applied to groups of goods and services currently
subject to the 10% VAT rate (8% after reduction), except for the following
groups of goods and services: Telecommunications; financial activities; banks;
stock exchange; insurance; real estate businesses; prefabricated metal and
metal products; mining products (excluding coal mining); coke, refined
petroleum; chemical products; goods and services subject to excise tax;
information technology under the law on information technology.
The policy of 2% VAT
reduction is effective from February 1, 2022 to the end of December 31, 2022.
The VAT reduction policy will help businesses, organizations and people
overcome difficulties caused by the pandemic, thereby recovering and developing
production and business. In addition, this policy also has the effect of
stimulating consumption and investment, thereby contributing to the process of
recovering the economy after the epidemic and contributing to the social
security./.
Hữu Tri