On June 24, 2023, at the Resolution of the 5th Session of the 15th National Assembly, the National Assembly passed the decision: Reduce 2% of the value added tax rate for groups of goods and services currently applying the VAT rate from 10% to 8% as prescribed in Resolution 43/2022/QH15 until the end of 2023? So what is the specific content of the VAT reduction policy according to Resolution 43/2022/QH15 ? Let’s find out with MISA meInvoice in the article below…
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1. Resolution 43/2022/QH15 and basic information
2. Contents of tax reduction policy according to Resolution 43/2022/QH15
1. Resolution 43/2022/QH15 and basic information
On January 11, 2022, the National Assembly issued Resolution No. 43/2022/QH15 on fiscal and monetary policies to support the Socio-Economic Recovery and Development Program. One of the most important and most popular contents is the VAT exemption and reduction policy .
1.1. Tax exemption and reduction policy
a) Reduce the value added tax rate by 2% in 2022, applicable to groups of goods and services currently subject to a value added tax rate of 10% (to 8%), except for the following groups of goods and services: telecommunications, information technology, financial activities, banking, securities, insurance, real estate business, metals, prefabricated metal products, mining products (excluding coal mining), coke, refined petroleum, chemical products, goods and services subject to special consumption tax;
Excerpt: Section a, point 1.1, clause 1, Article 3 of Resolution 43/2022/QH15
Summary of basic information oman telegram data about Resolution No. 43/2022/QH15:Abstract On fiscal and monetary policies to support the Socio-Economic Recovery and Development Program
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Official dispatch resolution 43/2022/QH15 on VAT reduction
Resolution No. 43/2022/QH15 On fiscal and the results of your survey monetary policies to support the Socio-economic Recovery and Development Program (Page 1/10)
On January 28, 2022, the Government issued betting data Decree No. 15/2022/ND-CP stipulating and providing detailed instructions on the implementation of tax exemption and reduction policies under Resolution 43/2022/QH15. Accordingly, the policy of reducing the VAT rate by 2% under Resolution 43 and Decree 15 has been applied and implemented from February 1 , 2022 to December 31, 2022.In addition, according to the content of the National Assembly meeting on June 24, 2023, the National Assembly passed a Resolution to reduce 2% of value added tax, this tax reduction will be implemented from July 1, 2023 to December 31, 2023 and will not expand the subjects eligible for VAT reduction compared to 2022.