Vietnam set to extend VAT cut for six months
This measure is expected to accelerate the recovery of production and business activities, which will ultimately benefit the state budget and the economy as a whole.
This measure is expected to accelerate the recovery of production and business activities, which will ultimately benefit the state budget and the economy as a whole.
The extension will result in individuals' savings in spending and living expenses, potentially stimulating demand and boosting consumption.
A 2% rate cut in the value-added tax (VAT) would cause a decline of VND49.4 trillion (US$2.1 billion in state budget revenue, but is necessary to support socio-economic recovery.