Vietnam Reduces VAT to 8% Until the End of 2024: Key Highlights

Decree 72/2024/NĐ-CP outlines a significant reduction in value-added tax (VAT) rates in Vietnam, effective from July 1, 2024, to December 31, 2024. This measure aims to stimulate economic growth and alleviate the financial burden on businesses and consumers amidst ongoing global economic uncertainties.