According to a resolution approved by the National Assembly of Vietnam on 29 November 2023, the policy of 2% Value Added Tax (VAT) reduction on all categories of goods and services subject to a 10% VAT rate will be extended to 30 June 2024.

Same as before, the VAT rate reduction is not applied to the following categories of goods and services:

1. Telecommunications services, information technology goods and services;
2. Finance, banking, insurance, securities;
3. Trading of real estate;
4. Metal and precast metal products, mining products (excluding coal), cokes, refined petroleum, chemical products; and
5. Goods and services subject to special sales tax. For example, tobacco products, beer, cars, massage, lotteries, etc.

KAIZEN Group is equipped with experienced and highly qualified professional consultants and is therefore well positioned to provide professional advices and services in respect of the formation and registration of company, application for various business licences and permits, company compliance, tax planning, audit and accounting in China. Please call and talk to our professional consultants for details.