Bracing for upcoming challenges
Obstacles to economic growth were found as shown by statistics at the end of 2022 and became more serious in the first quarter this year. Currently, most key economic indicators are much poorer than in the same period last year. The value of textile and garment exports hit rock bottom, while the
Government greenlights VAT reduction to prop up economy
HCMC – The Government has approved the Ministry of Finance’s proposal to revise down the value-added tax (VAT) from 10% to 8% for certain goods and services this year to boost consumption and economic growth. Deputy Prime Minister Le Minh Khai assigned the Ministry of Finance and the Ministry of
VAT cut proposed to prop up economy
HCMC – The Tax Policy Department under the Ministry of Finance has proposed revising down the value-added tax (VAT) from 10% to 8% for certain goods and services to boost consumption and economic growth. The department proposed two options for the VAT reduction in a draft resolution for the
Fiscal incentives proposed for 2023
HCMC – The Ministry of Finance has proposed multiple fiscal policies in terms of taxes and fees to support businesses and households in 2023, according to a finance official. Speaking at a regular Government meeting on January 3, Deputy Minister of Finance Nguyen Duc Chi said that the suggested