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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