Report to the National Assembly of Vietnam on the continuation of a 2% reduction in value-added tax for the first 6 months of 2025 in Vietnam

Report to the National Assembly of Vietnam on the continuation of a 2% reduction in value-added tax for the first 6 months of 2025 in Vietnam

According to Resolution 218/NQ-CP of 2024, a summary report on the socio-economic situation for October 2024 and the first 10 months of 2024 has been presented.

In October, the global situation continued to develop complexly; military conflicts escalated in several regions; the global economy recovered slowly, unevenly, and unstably; natural disasters and climate change significantly affected many countries.

Domestically, the economy continued to recover clearly, but still faced many difficulties and challenges, especially the severe damages caused by natural disasters and floods in many localities.

The Government of Vietnam requires that in November and the remaining time of 2024, the Government of Vietnam demands that Ministers, Heads of Government agencies, Heads of agencies under the Government of Vietnam, and Chairpersons of People's Committees of provinces and centrally governed cities strictly grasp and implement comprehensively and effectively the Resolutions and Conclusions of the Central Committee, the Politburo, and the National Assembly.

At the same time, the Government of Vietnam assigns the Ministry of Finance to take the lead, cooperate with agencies and localities to research, advise, and propose building a National Strategy on anti-waste in the spirit of the guidance of the General Secretary To Lam, and report to the Prime Minister of the Government of Vietnam in November 2024.

Quickly summarize, evaluate, and advise to propose issuing within their authority or submitting to competent authorities to issue policies on tax exemptions, reductions, extensions of taxes, fees, and land levy in 2025 to be implemented right from the beginning of the year, especially the continued extension of the reduced value-added tax in the first 6 months of 2025 to report to the National Assembly at the 8th session. Deputy Prime Minister Ho Duc Phoc is assigned to direct the handling, ensuring the required deadlines.

More details can be found in Resolution 218/NQ-CP issued on November 12, 2024.

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