Vietnam Cuts VAT Rate on Certain COVID-Related Imports
Vietnam recently reduced value-added taxes on a range of COVID-19 related goods, including imports, the Hong Kong Trade Development Council reported Feb. 15. The country dropped VAT rates from 10% to 8%, which covers “all stages of a product’s life,”…
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including import, manufacturing, processing and trading. The reduction doesn't apply to certain telecommunications items and other goods and services subject to excise tax, HKTDC said.