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Vietnam Reduces VAT to 8% Until the End of 2024
Vietnam Reduces VAT to 8% Until the End of 2024

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.

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People complete procedures for establishing a business at the Hà Nội Department of Planning and Investment’s Business Registration Office.
Policy on business registration to be revised

The updated decree (No. 01/2021/NĐ-CP) attempts to defend the company’s rights and interests while streamlining numerous procedures, maximizing favorable conditions for businesses, and honoring their autonomy. HÀ NỘI – To bring the new draft decree on business registration reforms into compliance with multiple recently passed legislation, the Ministry of Planning and Investment (MPI) has completed…

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Government Proposes Extension of VAT Reduction Until End of 2024
Government Proposes Extension of VAT Reduction Until End of 2024

The Vietnamese Government has emphasized continued support for economic recovery by proposing to extend the current 8% value-added tax (VAT) rate on specific goods and services. This action aims to address ongoing economic challenges and promote stability. The Government underscores the effectiveness of tax support measures implemented in 2023 and the importance of building upon…

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