The Government on June 30 issued a decree regulating a reduction in value-added tax (VAT) on goods and services from July 1 to December 31, in accordance with Resolution 142/2024/QH15 adopted by the National Assembly on June 29.

The Ministry of Finance has proposed reducing by 10% to 50% of fees and charges in the securities sector, fees for appraisal of licenses for international travel service business, and for issuance of citizen identification cards from July 1 to December 31, 2023.

The Ministry of Finance (MoF) has sent a document to ministries, ministerial-level agencies and Government agencies asking for their coordination in the drafting of a circular on reducing fees and charges to ease difficulties for people and businesses.

The Government has agreed with the Ministry of Finance (MoF)’s proposal on a plan to reduce taxes, fees and charges for 2023, which suggested a 2% reduction in the value added tax (VAT) on goods and services subject to a 10% VAT.