Vietnam: Reduced VAT rate on certain goods and services
Reduction is effective from January 1, 2025, until June 30, 2025.
The government on December 31, 2024, issued Decree 180/2024/ND-CP—implementing Resolution No. 174/2024/QH15 which was passed by the National Assembly on November 30, 2024—which reduces the value added tax (VAT) rate from 10% to 8%, except on the following goods and services:
- Telecommunications, financial activities, banking, securities, insurance, real estate trading, metals and prefabricated metal products, mining products (excluding coal mining), coke, refined petroleum, and chemical products
- Goods and services subject to special consumption tax
- Information technology in accordance with the regulations on information technology
The VAT rate reduction is effective from January 1, 2025, until June 30, 2025.
Read a January 2025 report prepared by the KPMG member firm in Vietnam