TIẾNG VIỆT Lawmakers propose extending VAT reduction to 2024
Cut has helped accelerate production and trade. Photo by VnEconomy.
Earlier this year, the government recommended cutting the VAT rate by 2 per cent from July 1, 2023, to the end of the year as the domestic and global situation is forecast to continue facing more problems, according to Minister of Finance Ho Duc Phoc.
Chairman of the NA’s Finance-Budget Committee Le Quang Manh said the issuance of the policy is necessary to continue supporting the production and trade of businesses and individuals who still encounter many difficulties following Covid-19 amid the context of the economic downturn in the fourth quarter of 2022 and particularly the early months of 2023.
Mr. Manh said most members of the Committee approved the government’s proposal to further support businesses and individuals in recovery and development.
Source: VnEconomy
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