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Vietnam to Slash VAT to 8% in 2022 Stimulus – VN News

The stimulus move could result in a VND49.4 trillion ($2.17 billion) tax break for businesses, nearly three times the tax cut they received in all of 2021


Vietnam
Vietnam's industrial production is heavily reliant on Chinese materials and equipment. Photo: Reuters.

 

Vietnam is looking to cut value added tax (VAT) for applicable goods and services to 8% in 2022 – from 10% now – with the reduction set to begin from February, Vietnam News reported.

The major stimulus could result in a VND49.4 trillion ($2.17 billion) tax break for businesses, nearly three times the tax cut they received throughout 2021, Finance Minister Hồ Đức Phớc said.

 

Read the full report: Vietnam News.

 

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Jim Pollard

Jim Pollard is an Australian journalist based in Thailand since 1999. He worked for News Ltd papers in Sydney, Perth, London and Melbourne before travelling through SE Asia in the late 90s. He was a senior editor at The Nation for 17+ years and has a family in Bangkok.

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